Market Wrap-Up for Aug.23 (POT, CMI, DE, WMT, HPQ, more)


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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 landlord.

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 ( POT ) climb a bit more on news the company is trying to pull in higher takeover offers. Hewlett Packard ( HPQ ) moved down on news it was entering into a bidding war with Dell for 3Par ( PAR ). 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 ( CMI ) , Deere ( DE ) , and Blackrock ( BLK ) . Bucking today's downtrend was Wal-Mart Stores ( WMT ) , 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 .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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