The DJIA is down *another* 213 points - right back to the 10,300's where it was back in April of 1999. In spite of media hype, your retirement funds have lost half their value when calculating inflation (4% per year). It seems the only folks making fat nest eggs are the Wall Street Bankers who started this economic chaos.
Today S&P/Case Shiller Home Price Indices released "A Year in Review" explaining how the housing market fared in 2009. It turns out that housing is still the best investment, with returns up 6.2% over its low in June of 2006 when the crash occurred!
Here's the link to the full CNBC article: http://www.cnbc.com/id/34978860 Here's a snippet from the article:
"At a cursory glance it seems to just show that, with the exception of Detroit, the cities that saw the biggest boom also saw the biggest bust. We knew that. But if you look closer, you can see that while losses abound across the board, most cities are still ahead of where they were in 2000, despite the market crash.
For example, Boston saw about an 82 percent jump in home values from 2000 to its peak in 2005, and saw only a 15% drop from the peak through October of 2009. Chicago saw about a 65 percent jump to its most recent peak and only a 22 percent drop. Even Miami, with its 48 percent price drop from peak didn't wipe out the 170 percent gains it made in the first half of the decade."
So.. the housing market - which has suffered the "worst losses since the Great Depression" - is still ahead of 2000 (and 2006).
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