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Fewer FIREd Folks
Old 05-19-2012, 09:56 AM   #1
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Fewer FIREd Folks

From today's NYT, " “The fact of the matter is that this aging-but-not-yet-aged segment of the baby boomer class can’t afford to retire,” said David A. Rosenberg, the chief economist of Gluskin Sheff, a Canadian firm, noting that overall household net worth was 15 percent lower than at the prerecession peak. “Dreams of the 5,000-square-foot McMansion being a viable retirement asset have morphed into nightmares of a deflationary ball and chain.” "

http://www.nytimes.com/2012/05/19/bu...it_th_20120519

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Old 05-19-2012, 08:27 PM   #2
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Originally Posted by omni550 View Post
From today's NYT, " “Dreams of the 5,000-square-foot McMansion being a viable retirement asset have morphed into nightmares of a deflationary ball and chain.” "
My dear old grandad told me fifty years ago: "When you start to view the house you live in as an investment you're headed for trouble."
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Old 05-20-2012, 04:05 AM   #3
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A colleage of mine is trying to sell her house. The house has lost 30% of its value since 2008. Her children are gone, and she lives on her own, but real estates taxes are now close to 10k (and another 10% increase is yet to come). She maybe an example of many people who have realized their house has become a financial trap.
Quote:
Originally Posted by omni550 View Post
From today's NYT, " “The fact of the matter is that this aging-but-not-yet-aged segment of the baby boomer class can’t afford to retire,” said David A. Rosenberg, the chief economist of Gluskin Sheff, a Canadian firm, noting that overall household net worth was 15 percent lower than at the prerecession peak. “Dreams of the 5,000-square-foot McMansion being a viable retirement asset have morphed into nightmares of a deflationary ball and chain.” "

http://www.nytimes.com/2012/05/19/bu...it_th_20120519

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Old 05-20-2012, 09:37 AM   #4
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The more I read articles like this more I wonder what happened to that age old concept of diversification in investing.
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