Pray That We're Wrong: Dead Cat Bounce

I've been talking with several c-level colleagues in several financial industries (accountants, controllers, bank CFOs, statisticians) and I was just reading some recent economic forecasts out of China as well. First, I'll assume you heard about the global recession. Next we'll assume you've heard the recent "hype" that we've seen the worst of it and are turning a corner and that last week's "numbers" were good. What if the truth behind it all is that we're just on the first bounce of a bigger declining picture? Not to get all "conspiracy theory" on you, but there are many economic indicators and challenges that are being swept under the rug. The US is resilient, but we're being pumped up with invisible funds and unprecedented half baked federal programs. Follow the money. This is going to hurt. So, Buyer beware. More than ever, I believe it's time to tighten up and buckle down even harder. Proper financing of your properties is just one aspect of your overall financial plan. Let's discuss the options in today's market (while we still have one). Pat Townsley, Mortgage Broker. 415-485-1776, www.ptre.net

Working from Yosemite

Other than servicing the clients existing clients in progress, I spent a good chunk of the past month in Yosemite, hiking, exploring, bouldering and learning. There are a couple good public wi-fi spots in the valley including The Awahanee (strong wi-fi, but cell service is bad) and my favorite is just about anywhere near the employee housing between Housekeeping campgrounds and Curry Village; Strong signal, outdoors, bears, ravens, oh my. Mortgage rates pretty much did nothing, except for the high-balance conforming loans where lenders artificially and deliberately increased the rates there to slow down originations. Their portfolios are are too heavy with those loans, so they're pushing for the $417,000 and lower loans now, and of course, in Northern California (Bay Area in particular), that really doesn't help the housing market for sales or refi. Remember my post on "Dead Cat Bounce" about a year ago? I think we're in the bounce now. I'll comment on that next. Pat Townsley; 415-485-1776. www.ptre.net