For all the Wall Street and financial market chaos, I look today to see how my 401(k) is doing. While all of the funds are down somewhat QTD (ranging from -0.2% to -6.2%), the YTD is somewhat more reassuring (one fund is down 0.5%, and the rest are positve, one is up 9.9% on the year) and all of the funds are positive over the past 12 months (from 8.7% low, to 26.54% at the high)
Being a bit of a long term investor, I'm kind of keeping my eye out for a big check, due any day, and I might take advantage of this low point to stuff my 401(k) for the year.
As someone who got caught in the last housing bubble (back in the early 90's, upside down in a house with an ARM) which I did not get out of until around 2000, I have a lot of empathy for those who are going to lose their homes. But sheesh - did we think these low interest rates and rising real estate values would go on forever. I came of age in the 70's and we were looking at inflation, an energy crisis, and interest rates through the roof.