Those are the words of Dean Baker, co-director of the Center for
Economic and Policy Research. He was cited as the source for a
report out today that estimates it will take 20 years to recoup the
$6 trillion of housing wealth that has been lost since 2005.
During the 1970s real home prices increased 1.1 percent a year
after inflation, which more or less proves the old adage of
considering real estate more as shelter for your family, instead of
it being a nest egg for your retirement. Multi-family homes are a
different story and can be better options from an income
standpoint, but that comes with the unenviable job of being a
This all goes back to our long-help belief that dividend-paying
stocks should play a significant role for one's retirement savings.
That said, we are cautiously watching the current market situation
closely. We will certainly alert subscribers to any changes we make
to our recommendations.
As for today's action, we saw Potash Corp (
) climb a bit more on news the company is trying to pull in higher
takeover offers. Hewlett Packard (
) moved down on news it was entering into a bidding war with Dell
for 3Par (
). Weakness developed after the early opening pop and we began to
steadily drift once the last hour came. Some of the names lagging
on the day included Cummins (
) , Deere (
) , and Blackrock (
) . Bucking today's downtrend was Wal-Mart Stores (
) , which finished higher.
Be sure to check out our
Best Dividend Stocks List
for our current recommendations. See you tomorrow!
Be sure to visit our complete recommended list of the
Best Dividend Stocks
, as well as a detailed explanation of
our ratings system here
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