WHEN POLITICIANS MANAGE AN ECONOMY

Today’s U.S. home prices and incomes vary widely, reflecting both locations and governmental policy differences. That variation seems to be reaching an extreme. How far and how long can a single economy be stretched given today’s ease of communication and travel before it collapses to readjust? The table below provides median household incomes, median home prices, a comparison of incomes to home prices and a comparison of incomes to the national median income. Will internal migration become an issue alongside immigration? How is government likely to react to the results of these economic stresses that it  has largely created?

 

LOCATION                                          Median                    Median        Ratio: Income to                  Local Income to

Household                               Home                       Home Price              National Average

Income                    Prices

SAN FRANCISCO, CA                   $96,265                   $1,351,500            14:1                        1.5:1

MANHATTAN, NY                            79,781                     1,195,000            15:1                        1.2:1

WASHINGTON, D.C                          77,649                        564,400              7:1                        1.2:1

LOS ANGELES CA                             61,015                       692,800            11:1                        .95:1

NEW YORK CITY, NY                      57,782                       671,400            12:1                        .90:1

FARGO, ND                                          59,561                       225,200               4:1                        .92:1

ALBUQUERQUE, NM                       49,878                      204,600               4:1                        .77:1

FRESNO COUNTY, CA                     48,730                      243,700               5:1                        .76:1

TALLAHASSEE, FL                           42,418                       182,900               4:1                        .66:1

HOUSTON, TX                                    63802                       189,500               3:1                           1 :1

CHICAGO, IL                                      83,890                      227,300               3:1                      1.3:1

DALLAS COUNTY, AL                     30,065                       50,900                2:1                         .47:1

*Most recent data available from Bureau of Census/ZiLlow

About Jack Curtis

Suspicious of government, doubtful of economics, fond of figure skating (but the off-ice part, not so much)
This entry was posted in Economics, Goverrnment, Politics, Uncategorized and tagged , . Bookmark the permalink.

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