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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 378.35+2.7%Nov 10 4:00 PM EST
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To: carranza2 who wrote (25921)12/1/2007 2:20:02 PM
From: KyrosL  Read Replies (2) of 217661
 
The conventional wisdom is that ARMs are bad. This is false.

Here on SI many are excoriating Greenspan for suggesting that people get ARMs. But Greenspan was right. ARMs for people with good credit, and a reasonable downpayment have actually been much better than fixed rate mortgages and will probably continue to be better for the foreseeable future. Given that the average holding period for a house is seven years, Greenspan's advise was excellent for the average homeowner.
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