median income

Median Income Dropped 3.6% in 2008

income, poverty & health insurance:

The U.S. Census Bureau announced today that real median household income in the United States fell 3.6 percent between 2007 and 2008, from $52,163 to $50,303. This breaks a string of three years of annual income increases and coincides with the recession that started in December 2007.

The nation’s official poverty rate in 2008 was 13.2 percent, up from 12.5 percent in 2007. There were 39.8 million people in poverty in 2008, up from 37.3 million in 2007.

Meanwhile, the number of people without health insurance coverage rose from 45.7 million in 2007 to 46.3 million in 2008, while the percentage remained unchanged at 15.4 percent.

New Home Sales Plunge, Yet Few State the Obvious

I almost feel like typing ditto, repeat for this Instapopulist news.

U.S. Oct. new-home sales fall 5.3% to 433,000 pace.

the Commerce Department reported Wednesday that sales of new homes fell an estimated 5.3% in October to a seasonally adjusted annual rate of 433,000, the lowest level since 1991.

The real news on these economic indicators is that economists seemingly consistently under estimated the declines.

Now to the meat of these indicators: the price of homes. Prices have declined 7% from one year ago, to a median price of $218,000.

Let's see, the mortgage calculator would give a rough monthly payment of $1500 dollars.

What kind of salary does one need to afford a $1500 dollar house payment?