1. The statement that 40 billion ARMs will reset in 2011 is obviously wrong. An IMF paper published last year predicted that ARM resets would peak in 2011 and that the dollar amount of loans resetting that year would approach $40 billion. Perhaps that is the number Jon Maddux meant to convey to Meghan Daum.

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2. The "Friedman Unit" applies to real estate as well!

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3. Great column! I'm going to link to it from my blog at sfvrealestate.blogspot.com.

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