I blogged earlier about the importance of diversity, diversity in personal finance. More specifically I had warned against the natural inclination to chase after yesterday's returns by investing in assets that seem to be making tons of money for everyone else.
Yesterday’s Washington Post had an article about the latest financial bubble that is in the process of leveling off, if not bursting altogether.
"With housing supply higher and demand lower, prices have fallen from their summertime peaks -- though prices fluctuate every month and often decline in the fall because summer is the busiest home-buying season. Nevertheless, some slides are evident almost everywhere: In the District, the median price -- the point at which half the houses cost more and half cost less -- was $425,000 in October, down from a high in August of $435,088. In Fairfax County, the peak was in July, when the median price was $503,000; in October, it was $489,450. The peak in Montgomery County was also in July, when prices hit $460,000; the median price in October was $429,000."
As much as I love the condo I lived in before I moved to Chapel Hill, I am so glad I got rid of it back in August.
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