In the view of Don Dewaay of Dewaay Capital Management,we've had two 45% declines in the past 10 years,and that's changing the way people save and invest.It's anyone's guess where this market is going in the next six months-or six years.Everything's been stress-tested,Mr.Dewaay observed.There's opportunity in the equity markets,but we focus on direct ownership of businesses and real estate.People have gotten farther away from their money,it seems to Mr.Dewaay.
Many investors are indeed taking advantage of the lower home prices,distressed properties and lower mortgage rates the financial crisis has resulted in.These will not last forever.KB Home,for instance,has resumed operations in the D.C. Metro area,feeling more optimistic than it has in some time.It had suspended construction and sales in late 2007,but plans to call construction workers and sales staff back to work,offering more moderately-priced homes for wary consumers.KB Home cited rising home prices and declining inventory levels as the reasons for its decision.
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