Remember the Stock Market?
People used to invest their extra money in companies instead of granite counter tops and viking ranges.
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[Yet evidence suggests the housing market is slowing. Sales of existing homes are expected to fall 4.4 percent in 2006 after years of record sales, while new construction is expected to drop 6.6 percent, according to the National Association of Realtors. And the median price of a home is expected to climb 5.1 percent this year -- a solid increase, but small compared to the ones real estate investors have enjoyed of late.
"Baby boomers are turning 60, and they're working to build up those nest eggs for retirement. For some that are running behind, that means putting at least some of that nest egg into more aggressive investments," said David Kelly, senior economic adviser at Putnam Investments in Boston.]
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[Yet evidence suggests the housing market is slowing. Sales of existing homes are expected to fall 4.4 percent in 2006 after years of record sales, while new construction is expected to drop 6.6 percent, according to the National Association of Realtors. And the median price of a home is expected to climb 5.1 percent this year -- a solid increase, but small compared to the ones real estate investors have enjoyed of late.
"Baby boomers are turning 60, and they're working to build up those nest eggs for retirement. For some that are running behind, that means putting at least some of that nest egg into more aggressive investments," said David Kelly, senior economic adviser at Putnam Investments in Boston.]
more...
posted by Little_Silvered at 11:12 AM
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