Just a little reminder of the growth in inequality which surely must be reflected in house price trends between areas.
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US household incomes fail to grow
By Steve Schifferes
Economics reporter, BBC News
US households have failed to benefit from the strong economic growth in the last six years of expansion.
Despite an economy that expanded by 18% since 2000, real income for the median family fell by 1.1% from 2000 to 2006.
Job creation was much slower as well, with jobs growing by just 0.6% per year, one-third of the previous rate.
But people at the top of the income distribution, the top 1%, tripled their income between 1989 and 2006, according to the Economic Policy Institute.
“While most Americans were struggling, the good times were rolling for the top 10%,” said EPI president Lawrence Michel.
With the US economy now slowing, household income is likely to fall further behind, the group predicts, with African-American and Hispanic households especially hard-hit.
