Yea The ARM reset situation based on LIBOR that people are fearing in the next 2 years may be a wet fart ... it will however not do squat to the dropping values, the gross over supply in certain markets, the fly by night builders, the 100 mile commutes in some areas, and the biggest party crasher of them all ... 2015 - 2045 ... baby boomers retiring and wanting smaller or houses in different areas ... We're in for a loooooooong 40 years ...
ARM reset is going to blow over like it was nothing, and those that refied now to fixed rate ... or that were offered fixed rate due to restructuring BS are going to look stupid. However ... the thing is dropping like a rock and will end up in some areas especially cold, crowded and old areas ... NYC/NJ, Philly, Boston for example ... are going to fall flat and not raise their head for 40 more years.
There is serious over supply ... people bought houses with a signature. Now, how many signatures do you have
Cool.
Buddha.

Quote from: sledge on October 29, 2008, 07:52:45 PM
What crisis? I saw £73 knocked off my monthly mortgage payment today, that is equivilent to a before tax salary increase of about £1.3K pa  ....3 years ago everyone said DONT take out a Tracker mortgage, the rate is gonna skyrocket......well here I am laughing my plums off.

uhh...can you convert what you said to american?