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Having spent the last 20 years, before I retired, in the investment industry, I'm not all that surprised by the current state of affairs. I (luckily) cashed out of my house and all of my non related sailing stuff last November. As the saying goes, I'd rather be lucky than good. I believe that we are in the early stages of a cyclical bear market that will last probably around 10 years or so.
I'm not suggesting/forcasting doom and gloom, but rather a general downward trend. There will be rallies for sure, but the direction will be mostly lower. I feel for the folks who bought homes using ARM's. Very bad move. Also thouse who re-fi and pay off the credit card debt. Now they carry the debt for 30 years. If they maxed them out once, what are likely to do now that the balance is zero. My opinion only, worth exactly what you paid for it.
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