Professor Mark J. Perry's Blog for Economics and Finance
From Table 10 in today's BEA report on Personal Income and Outlays, real disposable personal income increased by 3.3% in January, compared to the same month a year ago. This is highest growth in real disposable income since last May, and the second highest growth rate in the last 18 months. It's also a full percentage point above the 2.3% average during the last four years.
Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan. Perry holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University near Washington, D.C. In addition, he holds an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota. In addition to a faculty appointment at the University of Michigan-Flint, Perry is also a visiting scholar at The American Enterprise Institute in Washington, D.C.
4 Comments:
This is only going to grow and grow ....
Who needs a mortgage, just grab your Amex card.
“It may be tough to get financing for a new car these days, but in Detroit you can buy a house with a credit card.
The median price of a home sold in Detroit in December was $7,500, according to Realcomp, a listing service.
Not $75,000. Remove a zero—it’s seven thousand five hundred dollars, substantially less than the lowest-price car on the new-car market.
Among the many dispiriting numbers that bleakly depict the decrepitude of this onetime industrial behemoth, the steep slide of housing values helps define the daunting challenge to anyone who wants to lead this shrinking, poverty-pocked city of about 800,000 people.
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Maybe Obama and the Democrat party can do for the nation what they've done for Detroit.
January incomes got a boost from the cost-of-living adjustment made to Social Security benefits and a pay raise given to federal civilian and military workers.
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> The median price of a home sold in Detroit in December was $7,500, according to Realcomp, a listing service.
True, but then you have to live in Detroit, and, while that may not be hell, it's certainly in its near proximity.
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