Isn't this one a reality check. Business week points out we have hit another milestone, the stock market decline of 10 year S&P 500 investments are now worth 50% and that happens to be the Great Depression losses.
During the darkest 10 years of the Great Depression, from September 1929 to September 1939, the stock market dropped roughly 50%, adjusted for inflation. With today's drop in the stock market, the U.S. has now matched that unfortunate milestone. The Standard & Poor's 500-stock index, adjusted for inflation, is now down about 50% over the past 10 years from Feb. 17, 1999 to Feb. 17, 2009
Of course we're looking at the dot con bubble as a starting point...but didn't we have a series of bubbles in 1929 as well?
The article continues on how you have still made a 30% gain on home prices...
I would have to say yet since wages are not in alignment with home prices.
Last I looked
I've offically still made a $100,000 profit on the house I bought in 1998. But that's only because the land is included and Oregon has such strict land use laws that anything within the urban growth boundary just keeps going up in value.
The house itself is now down to 25% of the total price. By the time I'm done paying off my mortgage, it'll be cheaper to bulldoze the place and sell to developers than try to find a buyer.
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Maximum jobs, not maximum profits.