Napa's Loan Ranger Chris Salese: A tax reformed turkey with cannabis sauce
Loan Ranger

Napa's Loan Ranger Chris Salese: A tax reformed turkey with cannabis sauce


For many of you, I’m sure 2017 has been quite a year for all sorts of different reasons.

It almost seems unprecedented in terms of the number of events and the magnitude of them across our country this year.

As a result, the customary practice of giving thanks today will likely mean a lot more than usual.

In fact, it’s also important to use this year’s Thanksgiving holiday as a way to re-energize and re-assess as we get ready to roll into what’s certain to be a compelling start to 2018.

Let’s face it, I don’t think the standard holiday shopping season chatter is going to hold much space at the conversation table today.

Well, perhaps it is for some people. But the usual “we need some ideas for so-and-so’s Christmas gift” is going to take a back seat to a few other topics du jour.

I bet that even the infamous NFL owner named Jerry Jones won’t get uttered more than once either.

Oh wait, it probably will because it’s the Dallas Cowboys vs. the San Los Diego Angeles Chargers game being played right smack in the middle of the day.

If I had to take a guess, the word “cannabis” is going to trend pretty high around the country in regards to the number of times it’s mentioned during dinner table conversation this year.

It’s pretty much official — we will now have a new legal green spinach for the 2018 holidays.

Whether it’s a revised list of the top things to do in Weed, California or a discussion on the coolest cannabis caves in town, this topic could cause some side effects for the home loan industry.

Although investors are starting to bundle together their efforts to figure out more ways to help employees in the cannabis business successfully obtain home loans, it’s still going to be a sticky situation going forward at the federal level.

And speaking of the government, the phrase “tax reform” is sure to be the top-ranked comment floating around the table this year.

Whether it’s successful or not by Christmas time, the impact on the housing industry is already being felt.

Homeowners are having to strategize on accelerating their refinance plans out of fear for potentially losing some mortgage interest deduction benefits, whereas “would-be” buyers are second-guessing their purchase plans because of possible reduced advantages for being able to write off property taxes.

Last, but definitely not least, we are likely to see the government increase the Federal Funds rate in December because all their reporting data, along with their intuition, indicate it’s a good time to do it.

Plus, we will also watch the resignation of our current Federal Reserve chairwoman, Janet Yellen, to make room for incoming chairman Jerome Powell to kick off 2018. That’s quite a one-two-buckle-your-shoe combination for the housing market as well. Can someone please pass the cannabis, I mean cranberry, sauce?

Chris Salese can be reached at or 707 363-4439. He is a licensed California mortgage lender (LO NMLS #254469 — State Lic #CA-DBO 254469 — Corp Lic #4170013 Corp NMLS #3113) and equal housing lender.


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