Average Income

Can someone shed some light on what is the average american income currently,
I have seen figures of $30,000 surely this can't be true?

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Permalink Reply by Dreamweaver on March 15, 2008 at 8:59am

According to the US Census Bureau in 2005:

The median household income was roughly $46,000.

The median annual earnings for someone in the labor force age 25 or older was $32,000.

The median household per capita income, the amount of money households are able to allocate to each of their memebers, was $24,000.

Personal income changes considerably over the life-time of the average American, from $28000 at age 25 to about $42000 at the age of 65

In the middle you have: Clerical, pink and blue collar workers with often low job security; common household incomes range from $16,000 to $30,000. These are labeled working class which comprises about 46% of the population. Then, semi-professionals and craftsman with some work autonomy; household incomes commonly range from $35,000 to $75,000. These are labeled the lower middle class which comprise about 30% of the population.

Dreamweaver

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Permalink Reply by Kieran on March 15, 2008 at 9:42am

Gee and I thought America was supposed to be the lucky country,From those figures all I can say is you must have very affordable costs of living.
What would the average home mortgage be then?
And rent on a family home?

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Permalink Reply by Dreamweaver on March 15, 2008 at 11:06pm

Yes, we've had a good P.R. and marketing team sending our message of abundance all over the globe for over 200 years. After awhile people start believing their own press;)

We've certainly been the land of opportunity and in many cases we still are for those who are, as always, in a position to capitalize on the ever shifting opportunity of the week.

The American people in their infinite wisdom, (and to the horror of every intellectual I know) reelected a complete moron. The government has gone from the biggest surplus ever, to the largest debt in history in 7 years. So as part of the economic "stimulus" plan, everyone is going to get an extra $300 this year so they can presumably put that money back into circulation

My economics professor is no doubt has come down with a bad case of deja vu. Remember, you heard it here first. It won't work. People will hold onto the cash because the people already know what the government won't figure out or admit for nine months, we're in a recession. I expect it to get very serious.

So back to your question. But for a scrupulous few, everyone is up to their ears in debt. The median value of a housing unit in the US was $167,500 in 2005 with the median mortgage payment being clocked at $1,295.

Where do you reside Kieran?

Dreamweaver

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Permalink Reply by Mearoon on March 19, 2008 at 12:47pm

Can't answer ya bud. I have never aimed to be part of the average crowd. Make money in '08 baby!

PS If I shot for avg. I could cruise the rest of the year because I have already sold 1 domain this year for $35,000. LOL