Archive for the 'Housing Prices' Category

United States “Cost of Home Ownership as % of Income” Map

Published by Catherine on August 30, 2007 in Choropleth Map, Housing Prices, US Census and United States. 3 Comments

Here I have mapped the cost of owning a home as % of household income (taken from the 2000 Census). This is calculated by dividing the median cost of owning a home by the household income for a given area. If you would like to see a more detailed version go to Social Explorer and choose “Housing” from the second drop down then “Median Owner Costs: % of Income” and select the magnifying glass to zoom in on a specific county.

{Click on the image to take a closer look}
% in Poverty Income Map magnafing glass

See also:
United States Household Income Map
United States Income Inequality Map
United States Poverty Map

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Housing prices and perception of wealth

Published by Catherine on March 15, 2006 in Cost of Living, Critiques and Commentary and Housing Prices. 0 Comments

Looking at the effect the increase in housing prices on people’s perception of wealth.

So again, has the housing bubble created a wealth illusion? It does seem that many Americans feel wealthier because of the large increases in home equity in recent years. However, it is difficult to gauge how people feel about their wealth. The most obvious way to demonstrate that we feel wealthier because of increases in home equity is by measuring how much equity many Americans have pulled out of their homes in recent years. As we have seen in this paper, the numbers are enormous. Most people will not use their homes as a piggybank unless they are feeling pretty good about your wealth (or if they are very desperate – it doesn’t appear that many people fall into this category). Based on this, it is safe to say that most of us are feeling wealthier these days because of the soaring prices of our homes.

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