“Great perspective! I’m selling my house for around $800K, we’re in escrow, and the buyers are getting a 5/1 ARM w/ 100% financing! With 80% of loans in CA reported as I/O, and some combination of no doc, neg am, and no down, these people will have to sell in 2006 – 2008 when rates go up. They won’t want to, but will have to.”
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Will they really be forced to sell? What inside information do you have as to where interest rates will be or how the buyers’ personal financial situation will evolve?
I’m sorry, but I am continuously baffled by the gloom and doom prognostications based on that which is not known.
