|party is over|
America crumbling? Come on...think for one second.
Most household wealth is tied to housing. 2007 was the peak of the housing bubble. 2010 was the trough. A 40% drop is not surprising or troubling at all. All this tells us is something that should be obvious anyway--we're not as rich as we thought we were during the most irrationally exuberant period in human history. We'll be alright though.