America is losing the ‘ARMS’ war. That’s the mortgage ‘ARMS’ war.

Not so much noticeable in Toronto, but mothef$%$king Phoenix is in complete meltdown. Las Vegas and Florida and parts of California have got to be in the same crash.

The ratcheting UP of interest rates has begun and it’s not pretty for most mortgage holders who took out the adjustable mortgages in the last 5 years.

Let’s just say the the ‘DUMPAGE’ of real estate is about to enter phase two. I am watching the housing stocks right now and they are telegraphing the same thing.

The dislocations will be significant and pain quite sad for some.

Hard to step up but I am definitely looking for dislocations in the neighborhoods I know and love.