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• pmigroup.com - "Economic & Real Estate Trends" survey

Hewitt Associates, Harvard University and the University of Pennsylvania worked together on a study recently to figure out why people don’t invest in their 401k plans at work. Hundreds of thousands of people who have access to 401k plans at their companies don’t invest. And that includes companies that match money at least some of the money put in. Clark doesn’t understand why people would choose not to put money into these accounts, especially when the company is giving them free money. The reasons people don’t invest are vast and numerous. They include the following: 1) they are paying down debt first, 2) they plan not to stay with the company very long, 3) they are simply procrastinating, 3) they are confused by the process, and 4) fear of government corruption and corporate scandals. Yes there have been rotten apples in the barrel, but in general 401k plans are very safe. And it doesn’t matter if you’re not planning to stay in a job long. You can take the money with you when you leave! You can guarantee your retirement will be paid for if you just put some money away. The younger you start, the better. And remember that the amount of 401k money you want in company stock is ZERO!

There is a lawsuit pending against Ford Motor Company, which alleges that the company has been overcharging and cheating black customers at certain Ford, Jaguar, Mazda and Land Rover dealerships. There are always undisclosed mark-ups in the loans dealers give you when you do financing at the dealership. It’s typically about 2 to 2.5 percent higher than the offer they get from the actual lender. But Vanderbilt University found that black customers were charged $862 more for a loan, while white customers had only a $475 mark-up. Vanderbilt also found that blacks were uncharged two-thirds of the time, while whites were charged more one-fourth of the time. Ford claims that it had no idea this was going on. But it did happen. Avoid mark-ups all together by financing with your bank or credit union instead of the dealership. You can’t get taken if you don’t do business with these people. If you think the car dealership can beat the offer you get from your credit union, offer it up. Maybe the dealership can beat it. But make sure you have an offer when you go in. Never conduct business the other way around.

What are the chances that you could buy a home today and it will be worth less in two years? A new study out by PMI Mortgage insurance researches this very question and claims that there is a 16 percent chance - on average - that your home could decline in value in two years. It depends, in part, on where you live. And, the Boston metro area has the largest probability for a decline in home values. Homes in the Boston area, which includes some of New Hampshire, are expected to decline in value by 53 percent in the next two years, accordin got the survey. Other at-risk areas include San Jose (a 53% chance of decline), San Francisco and Oakland (48%), San Diego (43%), Providence, R.I. (40%), Sacramento (37%), New York City (36%), L.A., (36%) and Detroit (27%). The least risky areas include Pittsburgh, Buffalo, Rochester, Oklahoma City and Indianapolis. So, there is definitely a decline in some markets, but it’s not yet a collapse. Get the full list by clicking here. So why is it happening? Well, there are a handful of areas where home values have outstripped family income. Add to that the fact that people have gotten ahead of themselves in terms of the type of homes they’re buying. According to the National Association of Realtors, people buying homes "on spec" or as second homes accounted for more than 35 percent of all houses sold last year. One in four homes bought last year were for investment purposes only, which always means the market is ahead of itself. People see real estate as the safe place to put money. But, it's important not to get caught up in the excitement of buying. Real estate should be a long term proposition. If you’re not planning to “flip” the house, look at it as something you would keep for a minimum of five years. And, before you buy, take a look at the PMI survey to find out what risks you might be encountering.

Clark talked today to the authors of the “Nancy” comic strip, which featured the name of Clark’s radio show in the strip yesterday. The illustrators, brothers Guy and Brad Gilchrist, said they listen to Clark’s show every night in Boston, as long as there is no UCONN or Red Sox game on. Guy told Clark how he moved up the ranks in the comic strip arena, and said he has written 44 books over the years. Clark has a way to go to catch up, but maybe he’ll get there some day. To see the cartoon, click here.