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Originally Posted by BusterPorn
So a million dollar house will be worth $500,000? I'd find that very hard to believe and would probably cause a severe depresion. So many people have everything invested in their home for it to drop 50% would crush them. You'd have so many people stuck in a home, interest rates would go up, those with ARMs would be fucked - unable to sell and unable to make their payments. If that does happen America will be a very sore sight for the eyes.
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Anyone who got an ARM in the past few years is a fucking idiot anyways. When you could get a 30 year fixed in the 5% range why the fuck would you get an ARM?
NOBODY anywhere thought that rates could or would get any lower, and anyone with an ARM has to know their rate will go up substantially when their 3-5 year fixed term is over.
