The letter game is about arbitrage in timing market perception for a region.

Let's say I have a week stay at your accommodations next week.You refuse to refund.I come because I have 1100$ to lose along with a contagion.I'd rather be messing up your place, rather than mine.Enjoy, the clean up.As unlikely, this will happen, it's the perception.

Not that I think we are necessarily headed for a recession, but sometimes perception is reality, especially with the way the media can portray things.

That perception however, is mistaken.

FOMO is a dangerous siren .

Their perception of low- and high-risk markets is oftentimes exactly the opposite of what a careful examination of the facts would indicate.

You can setup a free or low cost voicemail system through a service like Google Voice or American Voicemail and have those systems ping you when you wake up or set off sirens in your home if you’d like, entirely up to you.

As we stand today, lenders are increasing rates and fees significantly to slow their refi business which is being driven by the perception that rates are low, even though we are far off the lows. 

The perception of rates dropping have driven refinances up hugely, which has created both problems keeping up with all the refinances and demand side on them.

There is already a negative perception in the public.