Household incomes are shrinking. Over the last two years average income dropped more than 6 percent. The median income now stands at $49,909. If you look at income since the start of the recession in 2007, income has dropped nearly 10 percent. That is the largest drop in income in several decades. Continue reading
From the New York Times.
A growing body of research shows that foreclosure itself harms the health of families and communities. In our 2008 survey of 250 people undergoing foreclosure in the Philadelphia area, 32 percent reported missing doctor’s appointments and 48 percent said they let prescriptions go unfilled, significantly higher rates than others in their community. A paper released last month by the National Bureau of Economic Research found that people living in high-foreclosure areas in New Jersey, Arizona, California and Florida were significantly more likely than those in less hard-hit neighborhoods to be hospitalized for conditions like diabetes, high blood pressure and heart failure. Continue reading