What the experts say
Dow 1,000?; Condos on the mend; What’s mine is mine
Dow 1,000?
Recent market volatility has made “plenty of investors” nervous, even bearish, said Jeff Sommer in The New York Times. But market forecaster Robert Prechter is “in another league entirely.” Using a combination of technical analysis and social theory, he predicts that we’re entering a market decline of “staggering proportions” in which the Dow could fall from its current, near-10,000 mark to “well below 1,000 over perhaps five or six years.” His advice for investors: Find shelter in cash and cash equivalents and, if you can stomach the risk, short the market. In 2008, Prechter correctly predicted that the market would rally; then in late 2009 he warned a decline would resume. Though he’s “hardly the only market hand to advocate prudence,” other naysayers foresee only months—rather than years—of declines ahead.
Condos on the mend
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Finally, there’s a “glimmer of hope” for the condo market, said Beth Braverman in Money. Year-over-year sales volume was recently up 40 percent, and nationally prices have stabilized for the first time in years. “So is now the time to pounce?” That depends. If there are a lot of new condo projects in the works near you, better to wait awhile. “Even if sales have picked up, a glut of partially completed projects that might come to market soon could keep inventory high.” If you are ready to buy, stick to established developments with well-funded homeowners associations, and start your bidding at least 10 percent below the asking price. “After all, in this market, you have plenty of options to choose from.”
What’s mine is mine
Prenuptial agreements have become de rigueur among baby boomers who remarry later in life, said Mary Pilon in The Wall Street Journal. Roughly 27 percent of boomers age 50 and older are now on their second or third marriage, and they’re wary of commingling assets—especially if they are “on the cusp of retirement” and already worried about their dwindling portfolios. “People are more cognizant that money can be there today, gone tomorrow in a flash,” says Daniel E. Clement, a New York divorce lawyer. Things get even more complicated if the lovebirds have children from a previous marriage and want to make sure that heirs get a fair share.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Create an account with the same email registered to your subscription to unlock access.
-
'In short, the good economic news is real'
Instant Opinion Opinion, comment and editorials of the day
By Justin Klawans, The Week US Published
-
Today's political cartoons - October 8, 2024
Cartoons Tuesday's cartoons - double whammy weather, high stakes voters, and more
By The Week US Published
-
Humans are near peak life expectancy, study finds
Speed Read Unless there is a transformative breakthrough in medical science, people on average will reach the age of 87
By Peter Weber, The Week US Published