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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: mishedlo who wrote (4024)4/9/2004 1:30:17 PM
From: Tommaso  Read Replies (1) of 116555
 
I have been trying to figure out how Gross talked himself into that advice about ARMS, and the only thing I can see is that he has so much money himself that he is forgetting what it might mean to a family with a household income of $80,000 to be stuck with a $350,000 mortgage and find that over a three year period rates have risen by 6%.

The only way his advice makes sense is if you are in a position to pay off the mortgage as soon as rates really start to rise.

For most people, getting into an ARM is a very bad idea and Gross ought to have known better than to have said that.
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