Who are you referring to? If they are "weathering the storm", the what difference do the comps make? It seems like the referral to these type of people on this board categorize them as having affordable mort. and want to live in their house long term
Bob2007, I think JWM was refering to the following case:
John Doe bought his house in 2002 with a 3yr-ARM. In 2005, when the ARM resetted, he had a lot of equity & was able to refinance into another 3yr-ARM.
In 2008, when the ARM will reset, if prices go down significantly, John Doe may not have the equity need to refinance again. Some people may think that home prices in 2002 was "low" enough for people who bought at that time will be able to "weather the storm", but it all depends on the financing used to purchase the house.
