HELOC, Appraisal Fee Analysis, Database Analysis and Broker Knowledge Products; Primer on Recessions

We’re halfway through 2023 already. Time flies. It doesn’t seem that long ago when I was a kid and I had to learn how to make my own bowl of cereal with milk. Now there are instructions. Talk about the dumbing down of the population. I don’t know if they still make the small boxes with serrated grooves you could cut or tear through and then just add milk. Why dirty a bowl when you don’t have to? Spending money on useful things is one thing, although I’ve been known to spend money on some odd things, like copper fire extinguishers. But I guarantee that I will never spend my money on a $60,000 microscopic ‘Louis Vuitton’ bag. People are still spending out there. Why haven't we seen a recession yet? One of the biggest reasons is the labor market, which has remained remarkably resilient. Companies had a difficult time finding workers during the pandemic and are reluctant to let them go. Second, companies, governments, and families everywhere took advantage of low rates to refinance their existing debt, and now they are paying rates that are close to the inflation rate, the equivalent of free money. More on recessions below! (Today’s podcast can be found here and is sponsored by Visio Lending. Visio is the nation's premier lender for buy and hold investors with over 2.5 billion closed loans for single-family rental properties, including vacation rentals. Through its top-rated Broker Program, Visio brokers can earn up to 5 percent. Hear an interview with American Land Title Association’s Steve Gottheim on Fannie Mae’s title insurance pilot program and alleged attempted expansion beyond its core mission and statutory charter.)
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