Federal Reserve

>> Thursday, February 12, 2009

The Federal Reserve today announced that the recession had cut many of Americans' net worth by about 20 percent, as the value of homes, stock portfolios and businesses have plummeted! Wow I am so glad they told us that! As if we didn't know already!

I was looking on Zillow.com and it said my house had dropped about $9,000.00 in the last 30 days! I know that is not a figure I can totally rely on, but still nobody wants to see their assets losing value!

I am not an expert but I think the housing market has a year or two to go before it stabilizes. At that point I think the housing is going to go back to what the house is truly worth. The prices have been over inflated for many years, but even still I would not have expected this happen.


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