News & Opinions
The latest news and insights from Hanley Wood’s outspoken experts and key thought-leaders throughout the residential and commercial design and construction industry.
Steve Goldstein / MarketWatch / September 17, 2013
The average American household earned $51,017 in 2012, which basically was unchanged from 2011
If you’re going to be average, be average near the heart of the federal government.
The latest Census Bureau data shows that Maryland, the District of Columbia and Virginia all are in the top five in median household income. While they have a crazy-looking flag, Marylanders pulled in $71,836 per household in 2012.
Compare that to Mississippi, where the median household brought in just $36,641 — just over half.
The average American household earned $51,017 in 2012, which basically wasRead More
Sam Chapman and Yuliya Demyanyk / Federal Reserve Bank of Cleveland / May 2, 2013
Since the end of the recent financial crisis, individuals have been reducing the large amounts of debt that they had built up prior to the recession. Recent studies show that the percentage of individuals holding debt in 2012 is less than in 2000. (See this Census Bureau study and “Uneven Debt Burdens across the States”).
As of the end of 2012, 25.6 percent of individuals in a representative sample we analyzed have no debt. This fraction increased from 14.5 percent in 2000 and 17.3 percent in 2007. Forces driving this large deleveraging may include foreclosures, bankruptcy, decreased bankRead More
Jordan Weissmann / The Atlantic / December 4, 2012
I’m about to share a statistic that you should remember every time you think about the Great Recession, and why the recovery has been so painstaking. It’s going to illustrate precisely how devastating the downturn was for your typical American family, and the size of the hole we’ve been trying to dig ourselves out of.
Ready? Here goes: Between 2007 and 2010, the median net worth of U.S. households fell by 47 percent, reaching its lowest level in more than forty years, adjusted for inflation. In other words, middle class wealth virtually evaporated in this country. A good chunkRead More