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Monday, November 1, 2010

American incomes post largest drop in 14 months

You won't  have a housing recovery without a economy recovery this just nearly impossible.  This report show the economy is still weak even after 2 1/2 years worth of recession.
Incomes fell 0.1 percent in September, following a 0.4 percent rise in August that had been pushed higher by the return of extended unemployment benefits.
The weak growth in spending and incomes underscored how fragile the economy remains. Consumers facing high unemployment and slow job growth remain reluctant to spend.
Also note that once of the only reasons income is staying at the same level is that unusually long employment benefits are giving the unemployed money in the pockets.
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