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Strategies & Market Trends : Currents of Currency

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From: Ahda	6/20/2014 4:16:08 PM
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Bloomberg By Kathleen M. Howley The two-year-old U.S. housing recovery is faltering. The Mortgage Bankers Association yesterday lowered its forecast for combined new and existing home sales in 2014 to 5.28 million -- a decline of 4.1 percent that would be the first annual drop in four years. The group also cut its prediction on mortgage lending volume for purchases to $595 billion, an 8.7 percent decrease and the first retreat in three years. As prices climb, the ability of Americans with stagnant wages to buy homes wanes. The median U.S. household income rose less than 1 percent in 2013, according to data from Sentier Research LLC in Annapolis, Maryland. In April, the median income was $52,959. When adjusted for inflation, that's almost 6 percent lower than in June 2009, which marked the beginning of the economic recovery, said Gordon Green, a Sentier partner who formerly directed the Census Bureau office that compiles wage statistics As many states increase minimum wage for the lower wage earner of the economy margins can be too slim. Question to me is will increasing minimum wage have the undesired affect of reducing increases for those who are above minimum wages? A 20% increase at the base would have to translate to equal in the entire labor field. Inflation here is guaranteed. Yet there can be no inflation for those on a fixed income. We continually speak about the income gap here in the USA as well as income decreasing for many. There is a question here as we mandate wage inflation can it harm more than help?

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