Perception vs. Reality

A Sephardic Jewish man walks into a small community bank in New York City and asks for a loan officer. He tells the banker that he is going to China on business for two weeks and needs to borrow $5,000. The bank officer tells him that the bank will only lend him money with some form of security for the loan. The Sephardi man reaches into his pocket and hands over the keys of his new Ferrari parked on the street in front of the bank. The loan officer readily agreed to accept the car as collateral, and the loan paperwork was executed.

The bank’s president and officers enjoyed a good laugh at the Sephardi Jew’s expense for using a $250,000 Ferrari as collateral against a $5,000 loan. An employee of the bank then drove the Ferrari into the bank’s underground garage and parked it there. Two weeks later, the man returned and repaid the $5,000 plus interest, which totaled $15.41. The loan officer says, “Sir, we are delighted to have had your business, and this transaction has worked out very nicely, but we are a little puzzled. While you were away, we checked you out and discovered you are a multi-millionaire. What troubled us is, why would you need to borrow $5,000?”

The Jew replies: “Where else in New York City can I park my car for two weeks for only $15.41 and expect it to be available in perfect condition immediately upon my return?”

Here’s another. Two women began chatting in the office on Monday morning about their weekend. The first woman, all excited with an extra bounce in her step, asked the other how her weekend was. Her friend said: “It was a disaster. My husband came home, ate his dinner in three mins, and fell asleep in two mins. How was yours?”

The second woman had a massive smile on her face. She bragged to her friend that she had the best night with her husband as he swept her off her feet. She happily recounted the evening: “My husband came home and took me out for a romantic dinner. After dinner, we went on a long romantic walk. When we came home, he lit candles all around the house. The night was magical.”

Simultaneously, across town, the women’s husbands were having a discussion of their own. The first man asked about the other’s evening. “My night was perfect,” he said. He described that he got home on time to find dinner on the table, and after quickly eating, he immediately fell asleep. For him, it was an overall fantastic night.

The other man, the second woman’s husband, had a different experience. With a troubled look on his face, he narrated to his friend how horribly the night went. He said, “It was a disaster. I came home. There was no dinner. They cut the electricity because I forgot to pay the bill, so I was forced to take her out for dinner. Our meal was a small fortune.”

He went on to explain that he didn’t have anything left after spending so much money on the meal that he couldn’t hail a taxi. He decided that they should walk home, which took over an hour. To make things worse, when they finally got home, he remembered that the power was still out. He quickly ran in and lit candles all over the house. He jumped into bed and immediately fell asleep out of exhaustion.

Well, there you have it. Two perfect examples of how perception is not always reality. These anecdotes underscore a fundamental truth: an individual’s perspectives, biases, and circumstances often shape reality. What appears straightforward on the surface may mask layers of complexity and subjectivity beneath.

Acknowledging the relationship between perception and reality becomes vital as we navigate an increasingly interconnected and information-rich world. Understanding the complex interplay between perception and reality is essential for navigating an ever-changing world with empathy, insight, and humility, whether in personal interactions, economic analyses, or broader societal narratives.

Shmuel Shayowitz (NMLS#19871) is President and Chief Lending Officer at Approved Funding, a privately held local mortgage banker and direct lender. Approved Funding is a mortgage company offering competitive interest rates as well as specialty niche programs on all types of Residential and Commercial properties. Shmuel has over 20 years of industry experience, including licenses and certifications as a certified mortgage underwriter, residential review appraiser, licensed real estate agent, and direct FHA specialized underwriter. He can be reached via email at Shmuel@approvedfunding.com.

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