Sunday, December 27, 2009

A jobless decade ahead?

The Chicago Sun-Times reports:
Median household income, adjusted for inflation, fell to $50,303 in 2008, according to the U.S. Census. That gauge combines wages and salaries, investment income and government benefit payments like Social Security. It's down 4 percent from a peak of $52,587 in 1999, when incomes were bolstered by stock gains from the dot-com boom.
Why shouldn't housing prices go back to 1999 levels?