Why do you have to be so negative? Don't you know that the time to take out an ARM and buy real estate is now!
Your statistics are wrong again. The ARM's made sense about a year or two ago when short term rates were low. Now people are getting fixed and converting their ARMs to fixed.
Just commenting on what I see to be bad news:
23 percent of all American houses bought last year were for investment and in Miami, one speculation hot spot, 70% of condo buyers are investors/speculators.
Last year, 42 percent of America's first-time buyers – and 25 percent of all buyers – put no money down.
In California, 60 percent of all new mortgages this year are interest-only or negative-amortization.
I know, I'm supposed to spin it in a positive way. I don't. The facts speak for themselves.
"Why do you have to be so negative? Don't you know that the time to take out an ARM and buy real estate is now!"
Aboslutely!!!!! In fact add to these percentages:
(Why limit yourself to ARM's ?)
Last year, 42 percent of America's first-time buyers – and 25 percent of all buyers – put no money down.
In California, 60 percent of all new mortgages this year are interest-only or negative-amortization.
Yup, that's the way to go ... LOL!!!