Wednesday, September 29, 2010

Houston we have a problem!

The Census Bureau Released their 2009 American Community Survey Data yesterday. Here are some of the highlights or should I say low lights:

Median Household Income

    * Real median household income in the United States fell between 2008 and 2009 — decreasing by 2.9 percent from $51,726 to $50,221.

  Poverty

    * Thirty-one states saw increases in both the number and percentage of people in poverty between 2008 and 2009.

   Industry and Occupation

    * Work hours in the United States fell by about 36 minutes per week from 39.0 hours in 2008 to 38.4 hours in 2009.

Home Values

    * In 2009, the median property value for owner-occupied homes in the United States was $185,200.
    * After adjusting for inflation, the median property value decreased in the United States by 5.8 percent between 2008 and 2009.

The full report can be found here: census survey

Wow, so let me get this straight, our incomes are falling, we are working less and our house values have dropped over 5%. If you don't have you budget and finances together you better start now!

How has the recession affected you? Have you made changes in your budget over the last few years due to changes in the economy?

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