Right now the stock market is in a turmoil. Most banks' share price was dropped over 60% from the 52 weeks high.

Here in Queens, NY the house price is still stable in certain area such as Flushing, Elmhurst, Bayside, Forest Hills etc. compared to other locations in Queens or other states. I personally don't think it will substain for long, those market will follow eventually.

But right now I feel most people in Queens, especially Chinese, still feel optimistic; so I strongly think the market still have long way to hit the bottom, may be a year or two.

In stock market it is different, fears spread. Bear Stearns, Countrywide, Indymac, Fannie Mae, Freddit Mac was on Headline.

Bank of America closed today at $18.52, 65% off from $52.96. (Dividend 11.8%)

Citibank closed today at $14.56, 72.49% off from $52.93. (Dividend 7.9%)

If you have deposits in one of those banks, chance are you don't think they will go bankruptcy, so instead of getting half percent in money markets or higher in CD, why not buy their shares and get higher rate in dividend? I think the risk is low if holding for long terms as a Value Investor like Warren Buffett.