Who is Responsible?

[Danzig]

all i know is the current interest rates on 15/30 year mortgages are great. we refinanced just to cut time off, i'll pay the house off in half the time with barely an increase in monthly payment.
the issue isn't underwater-most people owe more than the house is worth when they make the purchase because of no money down.
the issue is when they get ARM's and the payment goes thru the roof and they can't afford it when it jacks up. i have fixed, and would never, ever have done otherwise. anyone who did is paying now-thru the nose. or they give up and give back their house.
right now the rent demand is incredible, so rent will rise. eventually it'll price people back into buying again because it'll be cheaper.

he's probably referencing people going from a high interest rate due to an ARM to a lower fixed. that would save a lot of people a lot of money.