Yep, all great news for the upper-upper middle class and the ultra rich.
Not so great if you don't have at least 100k in your 401k, you're ARM is expiring and your housing payment is jumping up, your job was outsourced to India, since you lost your job, you don't have health insurance but needed an emergency appendectomy and had to give the ER/hospital the 15k in your savings account to avoid claiming bankruptcy which is no longer allowed due to the BK laws that passed recently, and you had to max out your last credit card to buy your kid braces.
But hey, if you can afford those 70 million houses that are skyrocketing in NYC then you're doing great.
But most of us are happy if we can afford HDTV and the new iPhone when it comes out. That's all that matters right?