Comments on: The State of The Economy: Don’t Believe What You Hear On TV http://www.moneycrashers.com/the-state-of-the-economy-dont-believe-what-you-hear-on-tv/ Personal Finance Blog, Your Guide to Financial Fitness Thu, 09 Feb 2012 21:28:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Minimum Wagehttp://www.moneycrashers.com/the-state-of-the-economy-dont-believe-what-you-hear-on-tv/#comment-5395 Minimum Wage Tue, 11 Dec 2007 05:37:38 +0000 http://www.moneycrashers.com/the-state-of-the-economy-dont-believe-what-you-hear-on-tv/#comment-5395 Your Mileage May Vary, but nationally, median renter income is approx 40% of median homeowner income, and has been falling for decades as a proportion of homeowner income. (As mortgage innovations and lax lending standards have allowed millions of renters to buy homes, the "renters left behind" consist largely of those who live in high-cost areas or have low incomes.) Also, 50 percent of renters nationally are paying at least 30% of income for housaaing; in my state, 20% of renters are paying at least half their income for rent. Your Mileage May Vary, but nationally, median renter income is approx 40% of median homeowner income, and has been falling for decades as a proportion of homeowner income. (As mortgage innovations and lax lending standards have allowed millions of renters to buy homes, the “renters left behind” consist largely of those who live in high-cost areas or have low incomes.)

Also, 50 percent of renters nationally are paying at least 30% of income for housaaing; in my state, 20% of renters are paying at least half their income for rent.

]]> By: authorhttp://www.moneycrashers.com/the-state-of-the-economy-dont-believe-what-you-hear-on-tv/#comment-5380 author Wed, 05 Dec 2007 07:06:37 +0000 http://www.moneycrashers.com/the-state-of-the-economy-dont-believe-what-you-hear-on-tv/#comment-5380 Yeah, I was kind of in a weird mood when I wrote this post. I'm just tired of the media trying to spoon feed us what we are suppoosed to believe about the general health of our country. Yeah, I was kind of in a weird mood when I wrote this post. I’m just tired of the media trying to spoon feed us what we are suppoosed to believe about the general health of our country.

]]> By: Ethanhttp://www.moneycrashers.com/the-state-of-the-economy-dont-believe-what-you-hear-on-tv/#comment-5377 Ethan Sat, 01 Dec 2007 16:39:52 +0000 http://www.moneycrashers.com/the-state-of-the-economy-dont-believe-what-you-hear-on-tv/#comment-5377 I agree with the post, Erik, and I also happen to agree to a certain extent with your comment about global warming. Being an ecologist (and I hope having a moderately unbiased opinion), we need to be careful about our attitude toward natural resources. Because of some deep rooted aspects of our culture that stem from the renascence, we already have a very independent attitude from nature. I think if we don't do something about our energy consumption we will have to turn to agriculture to provide an incredible amount of our energy. I think if this happens we will consider ourselves even more independent from our environment, and I think this could lead to very unwise decisions by the general masses and by policy makers. I also think it could eventually have dramatic influence over the economy. Just some thoughts...but I agree the world is not going to end because of global warming. I agree with the post, Erik, and I also happen to agree to a certain extent with your comment about global warming. Being an ecologist (and I hope having a moderately unbiased opinion), we need to be careful about our attitude toward natural resources.
Because of some deep rooted aspects of our culture that stem from the renascence, we already have a very independent attitude from nature. I think if we don’t do something about our energy consumption we will have to turn to agriculture to provide an incredible amount of our energy.
I think if this happens we will consider ourselves even more independent from our environment, and I think this could lead to very unwise decisions by the general masses and by policy makers. I also think it could eventually have dramatic influence over the economy.
Just some thoughts…but I agree the world is not going to end because of global warming.

]]> By: michellehttp://www.moneycrashers.com/the-state-of-the-economy-dont-believe-what-you-hear-on-tv/#comment-5376 michelle Fri, 30 Nov 2007 18:11:56 +0000 http://www.moneycrashers.com/the-state-of-the-economy-dont-believe-what-you-hear-on-tv/#comment-5376 I agree with you, I dont think there is really anything to worry about. If you are smart and dont get in over your head, these changes should not be effecting you. If you purchased a house within your means and took out a mortgage you can handle then there is no reason to panic. The people who cant manage their money or assets well are the ones in trouble and they will always be in trouble because it takes some common sense. By the way I am a renter and in no way broke and living paycheck to paycheck. In fact I am not broke because I did not decide to buy a house even though I wasnt ready just because it was the trendy thing to do, like so many of my peers. I will take many things into consideration as to when is the right time for me and it will not have to do with how the media portrays the market I agree with you, I dont think there is really anything to worry about. If you are smart and dont get in over your head, these changes should not be effecting you. If you purchased a house within your means and took out a mortgage you can handle then there is no reason to panic. The people who cant manage their money or assets well are the ones in trouble and they will always be in trouble because it takes some common sense. By the way I am a renter and in no way broke and living paycheck to paycheck. In fact I am not broke because I did not decide to buy a house even though I wasnt ready just because it was the trendy thing to do, like so many of my peers. I will take many things into consideration as to when is the right time for me and it will not have to do with how the media portrays the market

]]> By: authorhttp://www.moneycrashers.com/the-state-of-the-economy-dont-believe-what-you-hear-on-tv/#comment-5375 author Fri, 30 Nov 2007 13:12:24 +0000 http://www.moneycrashers.com/the-state-of-the-economy-dont-believe-what-you-hear-on-tv/#comment-5375 Good point, but just because they are renters doesn't mean they are broke and have to live with living paycheck to paycheck. Good point, but just because they are renters doesn’t mean they are broke and have to live with living paycheck to paycheck.

]]> By: Minimum Wagehttp://www.moneycrashers.com/the-state-of-the-economy-dont-believe-what-you-hear-on-tv/#comment-5373 Minimum Wage Fri, 30 Nov 2007 07:02:03 +0000 http://www.moneycrashers.com/the-state-of-the-economy-dont-believe-what-you-hear-on-tv/#comment-5373 Just as there are Two Americas, there are Two Economies. Homeowners, riding the crest of a real estate boom and an interest rate trough, refinanced their homes, reduced their mortgage rates, took out equity, and are flush with cash. Renters, failing to benefit from either the real estate boom or the interest rate trough, were unable to cash out, and are struggling paycheck to paycheck. Just as there are Two Americas, there are Two Economies.

Homeowners, riding the crest of a real estate boom and an interest rate trough, refinanced their homes, reduced their mortgage rates, took out equity, and are flush with cash.

Renters, failing to benefit from either the real estate boom or the interest rate trough, were unable to cash out, and are struggling paycheck to paycheck.

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