Hilarious: "so that someone could set up a motel in your neighborhood."
Been diving deep into this Florida insurance thing and Citizens. Doing a Spaces on Monday (will record). This is a really, really big deal, and it is about to get super political.
And, then in other news, spent all day explaining to a client why their servicer advance went up so much in CA last month.....tax bills. No one was ready. Looking at borrower weakness this could really be a default trigger as their payments go up to replenish escrow.
Apr 21, 2023·edited Apr 21, 2023Liked by Rudy Havenstein
Watching the film clip, Imagine our country (or world) if we rewarded the people who made us better (emotionally and intellectually) rather than those who make us feel worse (though financial shenanigans and greed). I believe it’s very hard to become a teacher in Norway - not because the job pays well, but because it’s the profession is so highly respected it’s competitive. We have good people in the US, we just don’t celebrate and reward them.
As for Philly, I just saw a drive-by clip on Twitter of extreme homelessness, drug use and filth shared by a European who rightly points out, whatever Europe’s troubles, we don’t have that.
And as for the value of anecdotal information, when I emigrated to Ireland 32 years ago, the Irish shook their heads curious as to why I would leave the US for Ireland (for love). Now, to a person - Irish friends and strangers alike, express shock and dismay and the tragic state of the country - recalling how it was the place to go to when they were young - now their kids ‘never would want to live there.’ I wonder do the Americans living there see that? Or are they boiling frogs? Or are the decision makers and influencers too cosy in the ‘nice’ neighbourhoods to notice. Foreigners notice (and so do some Americans who I meet who stay at my neighbour’s Air Bnb).
Looking at the FICO, mortgage averages, and median income information you presented, reminded me of a commercial from 40-years ago. In it, a blue collar father about my age now, is sitting at a kitchen table with his son about the age I was then. A one point, the father was visibly surprised and excited when he found out his son was making $40k/year. I remember feeling good about myself because I had passed that milestone . . . with no clue that 40-years later, people would be drowning in credit card and mortgage debt at that income.
Bove has lost touch with reality. Bank stocks become a real opportunity when the TBTFs reach single digits and you think some could fail. Not even close yet. I missed Chase at $9 in the early 90s and watched as it went to $120 but bought a small bit of Fleet at $3 in the rout pre BofA takeover. Averaged down from $25, 15 and 10. It worked but…. Not remotely there yet. Unless we are on the path to Zimbabwe inflation
Hilarious: "so that someone could set up a motel in your neighborhood."
Been diving deep into this Florida insurance thing and Citizens. Doing a Spaces on Monday (will record). This is a really, really big deal, and it is about to get super political.
And, then in other news, spent all day explaining to a client why their servicer advance went up so much in CA last month.....tax bills. No one was ready. Looking at borrower weakness this could really be a default trigger as their payments go up to replenish escrow.
Watching the film clip, Imagine our country (or world) if we rewarded the people who made us better (emotionally and intellectually) rather than those who make us feel worse (though financial shenanigans and greed). I believe it’s very hard to become a teacher in Norway - not because the job pays well, but because it’s the profession is so highly respected it’s competitive. We have good people in the US, we just don’t celebrate and reward them.
As for Philly, I just saw a drive-by clip on Twitter of extreme homelessness, drug use and filth shared by a European who rightly points out, whatever Europe’s troubles, we don’t have that.
And as for the value of anecdotal information, when I emigrated to Ireland 32 years ago, the Irish shook their heads curious as to why I would leave the US for Ireland (for love). Now, to a person - Irish friends and strangers alike, express shock and dismay and the tragic state of the country - recalling how it was the place to go to when they were young - now their kids ‘never would want to live there.’ I wonder do the Americans living there see that? Or are they boiling frogs? Or are the decision makers and influencers too cosy in the ‘nice’ neighbourhoods to notice. Foreigners notice (and so do some Americans who I meet who stay at my neighbour’s Air Bnb).
Looking at the FICO, mortgage averages, and median income information you presented, reminded me of a commercial from 40-years ago. In it, a blue collar father about my age now, is sitting at a kitchen table with his son about the age I was then. A one point, the father was visibly surprised and excited when he found out his son was making $40k/year. I remember feeling good about myself because I had passed that milestone . . . with no clue that 40-years later, people would be drowning in credit card and mortgage debt at that income.
Bove has lost touch with reality. Bank stocks become a real opportunity when the TBTFs reach single digits and you think some could fail. Not even close yet. I missed Chase at $9 in the early 90s and watched as it went to $120 but bought a small bit of Fleet at $3 in the rout pre BofA takeover. Averaged down from $25, 15 and 10. It worked but…. Not remotely there yet. Unless we are on the path to Zimbabwe inflation