I just got my retirement fund annual report in the email box. What a disaster, thankfully, I don’t need this money anytime soon. On the other hand, choosing a plan with a 5 year wait for full vestment was a monumental mistake. No chance, hopefully (but unfortunately for my dumb-ass decision), that equities will be this cheap again in 5 years.
Michael Lewis (with David Einhorn) has two OP-ED pieces on the economy in NYTimes today and both are excellent. Check them out. If you haven’t read Lewis’ piece on the end of the wallstreet boom from last month you should check that one out as well. Depressing yet informative.
Based on the NYTimes pieces I went over to trulia to check out home prices in my zip code. The sky is falling indeed. What is worse is the foreclosure numbers. More than 3000 in my zipcode alone. I have no way to check if those numbers are correct but I distinctly remember looking at them when we were buying the house and back then foreclosures were fewer than sales volumes. Now they are 10 times higher. I don’t know much about economics but I’m gonna venture a guess that its a bad sign.