EXTREME DESPERATION: Detroit family homes sell for just $10!

[SpreadingTruths]

What you say is true, but to be fair, the bottom 80% of the country's population is STUPID. You wouldn't expect stupid people to have a lot of wealth.

[fieldingmellish44]

@SpreadingTruths To which you clearly belong.

[blackmoney37]

you dont know what your talking about,, your one stupid ass black nigger....and Thats coming from a black man.....

[fieldingmellish44]

@blackmoney37 Well that makes it alright, then.

[daynights]

were are you getting your figures sir 69 +42+7=118% ?

80+5+1=86% 14% shortage of people poled and 18% over your wealth control per capierta so now you make me question your whole philosophy.

[ResearchKnowledge123]

I have family in Detroit. The city is shutting down entire sectors of the city. They're encouraging people to leave some areas of the city and move to more densely populated areas of the city to save money on city services. It cost alot of money to send police and fire to areas of the city that few people live. They are essentially downsizing the city. Homes in areas targeted for downsizing are dirt cheap because of this. Those areas will be converted to green spaces. Its not as dire as it seems

[ResearchKnowledge123]

@ResearchKnowledge123 Detroit was once a city populated with over 2 million people. Now its down to less than 900,000. All those homes and land must be phased out and converted to something more productive and useful. The Idea that homes in general are selling for 10 bucks is inaccurate and misleading.

[cleandiaper]

The stock market is a manipulated rigged casino. I guess when you print "money" and create it out of nothing, you would control 96% of the worlds resources too. Sheeple wake up! We have an evil crinminal element which hijacked our government in 1963.

[MrZLeroy92]

@cleandiaper The year year Kennedy died Coincidence hmmm.................?

[tideline473]

search out "shitty shitty bank bank" here on youtube and have a laugh!

[tideline473]

search out "shitty shitty bank bank" here on youtube and have a good laugh.

[slinkycat321]

Check out proshea01's channel, that guy really takes people on good tours on houses that are for sale in detroit, my god some of those houses are BEAUTIFUL and in good neighbors, brick built, the works, maybe selling for 40K or less. Apparently foreign investors from Europe and Japan have their eyes on these properties and are buying them.

[orvgg]

I woulnd't want to live in Detroit for all the crack cocaine in Whitney Houston!

[stilocloser255]

Thats whats I think World goverment

[Bryantsreeves]

First world countries will collapse then we'll be forced into a new world government.

True story folks.

[acechoice45]

Sounds like a 3rd world country is forming !!!!!!!!!

[ramusling]

Thanx for the post..... however the "value" of financial stock and securities is very uncertain these dayd cause many of these "papers" turn out to be worthless as there is nobody who is willing to buy it... but the fact remains that the rich get richer at the expense of the poor.......

[dave777blaster]

Detroit is Third world now

[dave777blaster]

the Problem in America is they owe more than they can ever make.

they have been a very irresponsible people it is very likely that American middle class people

have 10k$ credit card debt and house worth under water .

They go on vacation pull out all the stops when they do not have a pot to P in.

that is what is coming to an end for all time.

Those who lose their homes I have zero sympathy .

going from Toronto to Detroit is like going from paradise to hell.

[SubZero1703]

China owns USA.

[freedom4kaz]

All of those numbers as to the retail increase are unjust because they manipulate all info used. Don't bet your life on it that things are going to get better.

[MarkBH70]

It's almost a controlling interest.

[gasdorf]

are my commits showing up , just a test

[AnnoyingTypoSyndrome]

I think you tube has been on "delayed action"for several days, you know.

I had a go at one guy for blocking my comments, and censoring me, and then they turned up, the next day!

Doh !

[FoulOwl]

I've been having the same problems with YT lately too.And I also get replies tearing me a new asshole reguarding comments because the comment section is so jacked up people are taking things out of context.They cant refere back to the line of discourse and see the flow of conversation between users.BTW,I guess this comment will post sometime next week.

[gasdorf]

hey demcad

[gasdorf]

We've known each other for so long

Your heart's been aching but you're too shy to say it

Inside we both know what's been going on

We know the game and we're gonna play it

And if you ask me how I'm feeling

Don't tell me you're too blind to see

Never gonna give you up, never gonna let you down

Never gonna run around and desert you

Never gonna make you cry, never gonna say goodbye

Never gonna tell a lie and hurt you

[drutter]

Those homes have come down to their actual worth. What we need is for the entire western world to come back to reality. The stimulus can only artificially inflate so long. Let prices come down to where regular people can afford them - without lifelong debt!

[CTOL1]

Best Buy is closing a store here, there are two others though outside of town. Water rates going up. Oh well so it goes.

No word on the China Mall of America that is being tossed around for a defunct Mall here. 100% content would be Chinese goods!!

I'd like to see a 100% American made store. Is it any wonder that Best Buy decided to close?

[chena3]

politically compromised ....

brand

donkey chow

[chiyerano]

I wish I could find homes going for under $12,000 in certain parts of my state like around the Potomac area.  That would really be something.

[1776SonofLiberty]

(contd.) ...Given what we see on a daily basis regarding the economy and how things are getting more out of control, just think about the amount of strain that will be on law enforcement to control the potential civil unrest. What will one officer for every 900 people be able to do to keep order? That's why the potential for Martial Law is very very real!!!

[1776SonofLiberty]

Officials plan to lay off 57 police officers in Flint by the end of the month, a move that has some people concerned about public safety.

Flint Michigan newspaper. With the economy getting worse, other cities all over the country will begin cutting back on public services like policeman, fireman, teachers, sanitation etc... We could begin to start to see a break down of society, especially in cities.

[1776SonofLiberty]

@newman - if you're interested in buying houses, I know that they are selling them for about $10 in Detroit. LOL

[TruckDriverGuru]

This is so true someone is making a lot of money off of the low income people.This is one of the reasons that i made my changes a couple of years ago.Now I'm Doing Much Better Then B-4 !

Yes The Banks Are In Big Trouble.

The "TruckDriverGuru"

[shawnaspen25]

Buy Citigroups stock, Gold & Silver! Citi Citi Citi!

[chiyerano]

I'm leaning more towards utility stocks, gold & silver.

[sinsarcasmo]

Whomever says the economy is growing, lies.

I will repeat myself:

WHOMEVER SAYS THE ECONOMY IS GROWING, IS A STINKING LIAR.

Good video.

[akamuu]

Demcad, Retail was up only .03? Inflation at my store where I shop was higher than that. Can you explain the relationship between inflation, and the retail number? (for a real increase in sales the need to sell more than the inflation grew?)

[DEMCAD]

Okay.

[skyding8962]

Retail sales up over 3 percent in last year. Inflation much less than that in past year. Retail sales greater than inflation = recovery.

[chena3]

our financial leaders....

are acting like

a bunch of monkeys

in a banana factory ....

[boitumelo]

please add me as your friend i would like to send you a message and more info

THANKS!

[boitumelo]

plese add me as your friend i would like to send you a message thanks

[danratsnapnames]

those houses in detroit may be selling for $10 bucks.. but they take $50-$100 thousand to bring back up to livable conditions.. many are trashed beyond repair and really, all your buying is the property, which will cost you another $50-$100 thousand just to clear the old house off of it to start rebuilding a new one. even if you wanted to put a double wide trailer on them, you cant due to restrictions.. so they are worthless.

[MrBigwong]

401k's were a scam to get Americans look the only way when their tax dollars go toward enriching banksters after a crash.

Brilliant -- for the top 1 percent.

[AldoRama69]

LOL!!! He went through the big bag of rice.

[aceyorba]

Demcad.. how much is the average property taxes on a 10,000 dollar house????

[linhh82]

That is the problem with poor people they don't learn from the rich.

When I was young I realized that the rich were getting richer from purchasing stocks/business.

So I followed them and invested as well. Sure I'm not makin millions but I sure am making thousands.

[MrBigwong]

401ks were a scam to get the middle class to look the other way as it gets robbed. It's kind of like the fat, lazy, cheese-puff eating, unathletic Americans who somehow think the freakishly athletic people they watch on the boob tube are just like them.

I don't buy it.

[huskerbird1]

off the backs of the working class. rah rah

[huskerbird1]

bleed or sweat for that, our take profits off the blood and sweat of others.

[RichardBStrong]

Obama is gettin the job done! Remember he was the one invented "Yes We Can!"

[DEMCAD]

They glow in the dark. I like the stars. lol

[1989kirby]

how much do you have to make to be in the top 1%, 5%,10%?

[chiyerano]

I've never heard of anyone making it to the top 1% just by working a regular job. People who made it to this top 1% usually had something else going on that's bringing in income.

[GuidofromOtsego]

Or a family member that has the bills.

[zoom1234567]

Sounds like the top 5% know how to save money . they refuse to spend it on the worker , and its not making the economy better. Hard to save money when the top 5% owns everything and forces their 80% workers to spend everything they pay them back on their own things.Then they force the government to print more money /borrow to fill the money gap.

[B0rnAl0neDieAl0ne]

" The future belongs to those who prepare for it today" i like that quote.

[zoom1234567]

7% of wealth to 80% of the nation , man this collapse is going to hurt.

[zoom1234567]

there is the main problem with the economic system.. you nailed it demcad

[DirtyVegas7]

The money is being made by wealthy individuals ONLY everyone else lost money. I find it funny that they say ohhhhh Americans net worth is raising.....which is bull$hit. The average American is broke and has a negative net worth.

[avariceichiban]

what wealth? the DOW 30 has been essencially flat during the past decade tech stocks, even worse. You cannot create weath out of thin air it comes from savings. other markets actually make money, not the US

Crystal: that 1% probably make money from insider's info

Crystal: and ponzi schemes

[avariceichiban]

there is no weath DOW 30 has been flat the last decade tech stocks even worse weath cannot be created out of thin air it has to come from savings

[avariceichiban]

there is no weath to control DOW 30 has been flat the past decade tech stocks even worse you cannot create wealth out of thin air it has to come from savings

[timluns]

Im Rich

[timluns]

remember that old Beatles song there is going to be a REVOLUTION!

[timluns]

Remember that old Beatles song There is going to be a REVOLUTION!

[xBabyDragonx]

Sales are probably up because ppl are stocking up on survival gear! ( hopefully) I myself plan on giving the economy a boost by supporting my local gun shop...lol Take care R., keep up the endurance training! :) Thanks for the updates!

[chena3]

you can lead

a donkey

to the big bag of donkey chow

but

you can't make him

stop eating ....

the rich are like donkeys

they just don't know it ...

[skyding8962]

No Blogtv chat tonight? Darn I love those sunday night blogtv.

[DEMCAD]

Sorry!

[3RiversRogue]

sounds like I should buy a few homes on the cheap in Detroit, eh? If one could get a few adjoining properties, one might be able to make some worth of it... Maybe.

[snarbywrx]

$10?!!? They should pay you to take if off their hands.

[webcompanion]

Thanks Demcad. I was down at the St. Pat's parade in downtown Detroit today. There were some lofts that looked brand new there on Michigan Ave and they had cool decks that overlooked the street, perfect for the parade. I thought... yeah, I would love to own that place... but only for today. It's sad but really that area (Corktown) is usually empty except for today. I would give $10 a year for that.

[looseal22]

That's what MSM means by a jobless recovery. They don't need us to have jobs for them to make money!

[sealhunter5]

How can can owning property is called owning!

When the local government tax the property at what ever they want until you cant pay anymore!

Then they just got to get a new slave in the house so the can pay the FEEES

[Airave]

Sooo many lies

told, and accepted,

to and by, the people.

Reset: Let's go!

[rickster348]

I heard another story about turning some of Detroit back to farmland, Have you heard anything more about this?, Good video, Thanks.

[gr8mikeY]

Yes, I saw an article the other day about that. They supposedly want to bulldoze something like 25% of the city and convert it to farmland

[rickster348]

I mean, it just seems so crazy, a once monster of industrial strength, reduced to growing soy beans. I never thought I'd see something like this. It bother's me just thinking about it. -Thanks.

[gr8mikeY]

Reginald, You are missing one very key factor to this net worth increase! When you default on your mortgage and walk away, You then no longer are carrying the massive mortgage debt as a liability against your home which has gone down in value. In other words, if you are under water on your morgage and you strategically default, your net worth increases as you are no longer in a negative equity situation. Get richer by defaulting! Sad but true!

[DEMCAD]

Good point!

[polarbeach]

mark to model lol hey if I could get all my neighbours to agree I'm worth 10 million does that mean I am ?

[Bassmarko]

We need more rich people in the upper middle class. Small business owners etc to water down the mega rich Corporations. It bothers me when people call the top 1% rich people. These are rich global corporations. I guess we can look at CEO's and board of directors etc but still these are corporations. Bill Gates would be one of these rich folks but funny I don't have a problem with his wealth. I think everyone should get the opportunity to be a Bill Gate if they have what it takes.

[looseal22]

Bill Gates became a billionaire selling software to the hoard of middleclass consumers. As the middle class is being killed off, the opportunity Gates had will not exist.

[Bassmarko]

I dont blame Bill Gates. I blame the government that is destroying the middle class. They think by taking from the rich they pull rich into the middle class and then by giving it to the poor they pull poor into the middle class. The problem is you no longer have a middle class. But you do have the large global corporations. We need to stop rewarding non-producers and taking from producers to create the forgotten man. Now all we do is de-incentivize everyone from being successful.

[huskerbird1]

you couldnt be more wrong, gates didnt produce a damn thing, he stole ideas froma few and monopolized it. But thats what all the top folks do, watch shark tank a couple of time. youll get the idea. The gove didnt ship our jobs overseas, big corps did that. blame the right guys.

[CELT2012]

you also need to look at the amount of money households are getting on theyre tax returns,,,,ive seen insane amounts coming in ,,,, 6 to 9 grand in 4 to five person homes , of course these people are unemployed, and theyre buying tvs and crap with the money which makes the economy looking better

[jnadreth]

Thankies DEMCAD.....You sound tired :)

[aybesee123]

How much of that is BS home equity because banks dont want to realize the true numbers?? Pre-recession home prices + bloated stock prices due to gov intervention = a positive number. Besides with inflation the money has to go somewhere, how can the net worth not go up? A time may come when your net worth in USD may soar beyond your wildest dreams...and you still cant afford a months worth of groceries.

[Zwikster]

That is a 0.3% increase from LAST YEAR, which was one of the worse retail years in DECADES. So if this year it has increased by 0.3%, what does that tell you?? It tells you that this shit is still BADDDDD!!! Celente commented on this ridiculous .3% stat last week. check-it-out!

[skyding8962]

No its a .3 percent from the previous month. Its actually up more than 3 percent since last year. LOL Looks like you been proven wrong and now we can assume that the opposite is true, that things are very good since the facts are the opposite of what you say.

[aybesee123]

is that the same logic you used to determine "the recession was over in July 09"

[skyding8962]

Actually the overwhelming consensus has been july 09, not me just saying it.

Ive actually looked at all the numbers and I can say without a doubt that the recession ended a long time ago. By the time you fools realize that well be in a 2nd dip again and you will have missed the recovery.

[aybesee123]

If there is a second dip than their never was a recovery, only a reflection of government intervention. I don't expect you to understand seeing as you are parroting the MSM figures on youtube.

[skyding8962]

Thats not true. In 1980 there was a doubledip. There was a year pause between recessions. It may not be "ideal" but you can have recessions very close to each other. In fact if you look at the data there used to be a recession ever 2 or 3 years back in the 1800's and early 1900's. Only when the fed started manipulating things did we start going longer without recessions.

[skyding8962]

And I don't expect you to understand since you a parroting the doom and gloomers and obviously have never looked at ALL the data YOURSELF.

[winner502]

your an qss hole

you are such a loser

skyding

spewing your crap

does your mother still feed you

because your ass dum as mud

[andrefrbk]

DEMCAD Is the recession really over?

[skyding8962]

Its been over since July 09. Where have you been?

[DEMCAD]

I watched "Gone with the Wind" on blu ray, last night. When I first watched the film, the intermission was so long, I thought the movie had ended. Funny thing is...after the intermissions, things really started to heat up!

[Resistance4Liberty]

Consumer goods increase, maybe due to people starting to store up more, getting ready, so to speak, for what is to come.

[coldfire2227]

Over here in PA the local Valley Forge Gun Show was so overpacked that there were at least 20 people in a 5 foot radius. Now I have gone to the gun show multiple times but never in my life I have seen it this crowded. It seems like more desperate people are trying to buy firearms as the economy is comming to an end. It seems like the local gun shows are turning out to be local trade places for bartering in the near future. Im buying my firearms and my survival gear locally for now on.

[caganb]

Time to go back to horse and buggy. Henry Ford should see what he created. He would kill himself !!!!!

[skyding8962]

Are you kidding me. Henry Ford sent money to the nazis. Hell hed be having an orgasm just at the site of things today.

[medhue]

Demcad, you need to set up a paypal account so we can donate. I been considering who in the alternative media to donate to. I've already donated to a couple larger media sources, but I want to also donate to individuals on Youtube. It is not charity, it is me saying to you that i like what you do and want to help you because what you do is valuable to me.

[TheMetalPerson]

Demcad has a restraining order for his wife and kids and needs to pay his child support.

Please donate money quick!

[skyding8962]

LOL@MOT reference

I can't believe anyone would listen to him or George after their fiascos. But it doesn't suprirse me. The average person is very stupid. Ive had first observation from the many suckers who got duped by online ponzi and pyramid schemes.

[DEMCAD]

Thanks for the offer.

Sorry, but I'm not an ebeggar. I would rather leave in my tent than beg strangers for cash. At least that way, I would still have my dignity. I appreciate the offer, but it's just not my thing.

[winner502]

you are stupid qss

blah blah blah

30 million uenployed

i wish i was there when your in the street soon when this thing tanks

and your mother selling apples to feed your panzi qss

you are so stupid i meet dummies like you every day thats why im rich

why are you here go to fox news and spew your venom like cavato that idiot and kudlow that flammer

you look like an idiot every post

qss dingy

[DEMCAD]

LOL @ TheMetalPerson

[johnny102marvin]

When a super solar maximum knocks out the electrical grid around the world....nobody will own any money.

[centervilletn]

that will be so cool seeing all those rich people going all to pieces...it wont bother me ..much..i ve hid my money...what little i have...

[pgm98387]

Someone could buy up a city block and start an eco village.

[grover442]

Think about this Reg, who pays more taxes in a community,state, country-The 26.00 per hour and up union manufacturing worker or the resturant, retail,service industry workers making $10.00-$13.00 per hour with no or poor benefits to go with it. Yet the communities these manufacturing jobs set the standards in still have people in local government waqnting to live by these standards!

[centervilletn]

its not as important the amount of tax they pay it is more important the percentage of income they pay...

[mrzack888]

the rich are merely trustees to their wealth. they need to redistribute it to contribute to society. if they horde it, society will collapse,and nobody wins.

[sdndeath]

thats funny, lets blame the crash for detroit on a movie , so whats the excuse for the rest of the country, i live near cincinnati and parts were used in several nice movies, did the nice feel good movies also make our price's drop?

[troglodyte3344]

$10 house - BULLSHIT. so gullible.

[cosmicguerilla1]

great info

[enslavetherich]

Enslave the Bankers..

[skyding8962]

Not enough of them. Enslave the mexicans. We could exploit them just like Nazi German exploited the jews. Our economy would come back. Oh but some of you think your too good to do that. Well good luck having no job. LOL

[winner502]

you are a shill we know it

fool

why are you here

because you work for your mom

no proably some shill from goverment

f off loser

i got your number

[nyc10101]

what is your definition of middle class? is it based on income? neighborhood? friends and gadgets?...

[RESET1776]

I never thought I could say this. But now I can buy 5 homes for the cost of a take of gas in my car.........

[newsman1290]

How you buy homes for cheap like that. Give me a hint. I could use some equity.

[skyding8962]

Im surprised you reported positive numbers reginald. I figured you would brush those to the side this month searching for the negative ones. LOL

[DEMCAD]

Enjoy them while you can.

[skyding8962]

Yeah if you look at the numbers and the reasons for the positives you realize its all phony positive. The 2nd dip is just around the corner. I said this 3 months ago. If Oil stays well above 80 dollars for more than a month straight were going to have another dip right away. Well Oil has been hovering around 81 for about 10 days. Spring driving is just around the corner and if these oil prices don't go back down expect a huge downturn starting again in May

[centervilletn]

i think im falling in love with you skyding....you are so gentle with one hand and use the whip so well with the other

[skyding8962]

LOL centerville.

Now if only I could figure out how to apply that with women in the real world.

[centervilletn]

the shit of it im a straight man....

[looseal22]

Harry Dent said downturn in late April or early May too. He used technical analysis I believe.

[winner502]

oh know you agree

how about get your own channel were you can spew your crap

shill alert

ding ding ding

[SpringboardShop]

That house thing is like buying a sunken ship for one dollar with the provision that you get it floating and out of there in sixty days.

Thanks for sharing.

[newsman1290]

How you get a house for that price. I never have owned one but would not mine.

[cdmcl3]

...seems a game of D & D is all media are doing: "garbage in, garbage...etc."...

therefore, (also?) to be "skeptical" is quite the signal "opportunity," it might seem nowadaze....

[davincij15]

The net worth has increased according to mark to model aka marked to FANTASY!

[traynickel]

FASB baby, right on target there davincij15. Even with Mark to Model, yo boy Larry Silverstein still talking about strategically defaulting on a $400 million dollar tower at 575 Lexington Ave. in Midtown Manhattan

[davincij15]

Even Silverstein with a 2 billion dollar insurance scam pay out is defaulting? This is why I think everyone with a credit card debt or underwater should stop paying right now.

[traynickel]

A settlement was reached in 2004, with insurers agreeing to pay out $4.55 billion. Larry Silverstein and Tishman-Speyer are honest Jew(ish) money fiends. Their time is up. Now I'm signing out to continue my Mandarin Class.

[ducklamb1]

how can that possibly be.i dont know one person that hasnt had a pay cut or isnt working at all.everyone has cashed in 401k and savings just to pay bills.yes,the rich(including senators and congressmen)r getting richer,so much so it raises the average while the majority of people r becoming poor.how fucked is that.100k in detroit,never.

[centervilletn]

we have ONE car dealership in our town..Ford...they have been in business about 50 years...they are closing...and the owner told me that the cash for clunkers destroyed 2010 sales becasue people who were going to buy a car in 2010 bought early...he says he has only sold 2 cars this year....they are turning the dealership into a used tire store

[markymarkuss777]

@centervilletn OUCH!

[skyding8962]

Sorry centerville but thats not true. Ford sales are actually higher in January 2010 then they were in January 2009.

Ancedotal evidence has never worked for proving things.

[centervilletn]

Im just reporting whats happening here...the only way to get a picture of whats really happening is people have to report whats going on in their communities...we cant rely on government lies..corporate stockholder reports, and phoney numbers derivied by funny math...

[TheMetalPerson]

Tell them to lower their prices.

[skyding8962]

@metalperson

Thats true. We have about 3 ford dealerships in our area. One has very low prices, one a little high and the other one seems even higher than that. If someone doesn't wan't to lower their prices to their competitors well they deserve to go out of business.

[ColdRainyNights]

@skyding8962

Yeah some dealerships can be pretty stupid.

There's this Chevy dealer here in Riverside that is charging 20K mark up on new 2010 Camaros. They're charging 50K dollars for a new Camaro.

Meanwhile, they have slightly USED 2010 Camaros (only about 3K miles on them) that they're selling for just under 30K dollars.

I don't know who in their right mind would pay 50K dollars for a new Camaro when they can just get a slightly used one for under 30K dollars with only 3K miles on it....

[skyding8962]

LOL its riverside. There is plenty of stupid mexicans that can can't add.

[MenagerieRPG]

The common number used to be 5% = 95% of the wealth so I guess that's an improvement......?

[DEMCAD]

Where did you get that number?

[MenagerieRPG]

It was just the common number I heard thrown about. Sounded feasible but suffice it to say I am not in the 5% and I know that's where the money is lol.

[centervilletn]

people who get federal tax refunds usually file asap and get them in February..so who would be suprised there is an increase in sales in february..it always bumps up...February is the very best month in the used car business..and it has been for decades..

[skyding8962]

Numbers are seasonally adjusted for that.  Thats why they seasonally adjust economic numbers because every year things follow the same pattern on different stuff.

[centervilletn]

so seasonally adjusted ive had a 1000 percent increase in sex for the year! WHOOOHOOO!...

[skyding8962]

LOL

If you normally don't have sex for the year and you have it once then according to seasonal adjustments you had an infinite increase since according to calculs 1 divided by zero equals infinity

[vashguud]

It's probably from all the printed money. We have printed over 100% of the money which is several times more than the trouble we got into printing with the great depression. All the military and social security checks is inflated (digitally created) money with e deposits. And with online bill paying they don't need to have as much printed money.

[neanam]

vashguud

right in time for a cashless society...

[centervilletn]

net worth has increased?...how can that be true when the biggest investmetn people have , their homes, has lost 25 to 40%...the number is obviously bogus...its simply cannot be true information....unless it excludes homes in the calculation...and what the numbers then would be a measurement of people getting out of debt..not increasing "wealth'

[magbigblock]

@center, that's what I was thinking too. Unless the really, really wealthy have just skewed all the numbers while the rest of us fall, or bad (untrue) reporting.

[skyding8962]

Net wealth is a phony number to begin with. Its based on housing wealth which can fluctuate as well all know. Its also based on stock portfolio wealth which is also an illusion and doesn't mean anything.