[quote=deadzone]No crap, if you pay attention to the ARM reset charts it has been obvious for a few years now that there is no chance for a real housing bottom until at least 2012. The bulk of the ARM resets occur in 2011 and 2012. So regardless of interest rates and other factors, there is no chance for a real recovery to begin until those ARMs (aka foreclosures) are out of the system.[/quote]
deadzone, your “theory” here ONLY APPLIES to those areas where ARM and “30 due in 7, 5 (or 3)” and/or I/O mortgages were prevalent. In areas where the vast majority of buyers did not have access to these products (b/c they did not exist at the time of purchase) and there were very few refinances/helocs taken out in the last ten years, this “theory,” won’t hold. If you have your sights set on properties within these areas, you will find yourself waiting for a “recovery” that will never happen, IMHO.
