Hi All,

It’s Wednesday. The big news this morning is that millions of Americans are underwater. According to Bloomberg is reporting that nearly 8.5 million American households own more on their mortgage than their homes are worth.

Here is an excerpt from the article.

“An additional 2.2 million borrowers will be underwater if home prices decline another 5 percent, First American, a Santa Ana, California-based seller of mortgage and economic data, said in a report today. Households with negative equity or near it account for a quarter of all mortgage holders.” (here).

Of course, the upside to all of this is that its looking like a great time to buy real estate. Prices are significantly down off their highs from 2006. In particular, foreclosures are particularly affordable these days. This might be a great way to build your wealth because of the almost guarentees that the market will go up eventually.

Best,

James

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1) Collaborate: Meet regularly to talk about money, set goals together, track and monitor them.

2) Understand and respect your partner. Take time to understand your partners values about money.

3) Watch the numbers. Get a budget, monitor your spending and track your net worth.

4) Max your retirement. Maximize contributions to your tax deferred retirement accounts.

5) Invest in stock. Stocks perform better than bonds or cash.

6) Avoid high interest debt. Credit cards and title loans are financial cancer.

7) Diversify. Don't put all your eggs in one basket.

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