I don’t dispute that ARMs will have a significant impact on the housing market. However, I also believe that not everyone with an ARM or I/O loan is in jeopardy on losing their home when they reset. Many of my colleagues have such loans and I have no doubt that they will come out of this housing bubble unscathed. These individuals opted for such loans not because they could not afford a more conventional loan but rather that it made more financial sense for them. I think that it is nearly impossible to accurately quantitate the number or percentage of people with ARMs that are likely to get burned. I personally do not have access to sufficient data nor the time to make such an analysis.
I actually do not believe that rising wages will do much to avert a significant housing downturn. My inclusion of this statement in my last posting served only an illustrative purpose…that while you have such a strong insistance that people support their statements with data you seem to have a very loose interpretation of what constitutes true “data” (ie. heresay, and personal observations).
