Foreclosure Crisis to Cause Massive Losses in Wealth
More writing on the Wall.. Be sure to hit the link that in BLUE to the Center for Economic and Policy Research. Very good site and lot's of very useful information. Investors need to start thinking long and hard about strategies.
For the analysis and statistics here is the link to DS.news, from there hit the blue link:
http://www.dsnews.com/view_story.cfm?id=2621
Foreclosure Crisis to Cause Massive Losses in Household Wealth in 2009
Jacqueline Gilbert | 07.09.08
According to a new report from the Center for Economic and Policy Research (CEPR), which analyzed the wealth holdings of families in all age cohorts in 2004 and projected their wealth in 2009, the vast majority of these families will have “little or no housing wealth” next year.
“This extraordinary destruction of wealth will have tremendous implications for millions of families,” said report coauthor Dean Baker. “Coupled with a very low personal savings rate, this means that many people, especially those near retirement will only have Social Security and Medicare to rely on once they leave the workforce.”