On June 4th I wrote that the "credit crunch and housing bubble" aren't over yet. My timing, though unintended turned out to be right on, the markets have since stumbled largely due to ongoing concerns with financials. Keep in mind that I am not advocating getting out of the market, quite the contrary. My point is simply that the problems in banking are not over and will not be for quite some time, real estate will not recover in the hardest hit area's for awhile - perhaps 12 - 18 months and the recovery will not be monumental.
The article I linked to above basically echoes what I've been saying but with additional detail (rather long for my taste, but good info).
The world is not going to collapse, America will continue its march onward and upward, but in the short term there will be some more pain to come. For those who have the fortitude to stick it out, your rewards will be waiting for you.
Scott Dauenhauer, CFP, MSFP, AIF
