Give powayseller some slack. Who do you know in the news that’s not quoting somebody else? If you think about it, everyone is full of bull. The NAR predits 2% price appreciation; and some economists predict 4% growth; Bush says that the surge is working. Do they provide proof? No, they just pull the info out of thin air. It’s up to you to believe it or not.

Like her style of not, Powayseller is one of the first to write about the subprime meltdown and the loan resets.

At least she goes out on a limb to make hard-hitting predictions that may turn out to be right or wrong. But at least she’s making those predictions.

To return to the quote above, powayseller is one of first to predict a problem with all ARMs (not just subprime). If a substantial number of long time homeowners get into trouble then the effects on RE prices will be long lasting.