More proof we're all connected

 

I watched the pre-market open and the news of G.E. earnings coming out substantially lower had a very big impact on the market.

And what dragged G.E.'s numbers down you ask?

They cited the "inability to complete asset sales".

What kind of assets were they trying to sell?

Mortgage related of course!  The buyer reportedly could not get financing in place to complete the purchase. 

Sound familiar?

I'm working on finding a 30 yr fixed for an investment property with less than 20% down, stated income, great assets and a high credit score.  Like the buyers of GE's mortgage assets, they are in "contract" and it's tough finding the credit these days.

GE, who is listed on the NYSE (and one of the Dow 30) has dragged the rest of the market down with it. 

One thing to remember, it's tough for them, it's tough for us, and it's tough for you. 

This isn't 2003 anymore.