I keep telling clients that the writing is on the wall in the USA. Don´t expect healthy long term returns in real estate assets and don´t expect the domestic securities market to pay off either. Interestingly, the times had two relevant reports this morning.

Housing will eventually recover from its great swoon. But many real estate experts now believe that home ownership will never again yield rewards like those enjoyed in the second half of the 20th century, when houses not only provided shelter but also a plump nest egg.Investors withdrew a staggering $33.12 billion from domestic stock market mutual funds in the first seven months of this year, according to the Investment Company Institute, the mutual fund industry trade group.