In another example of the advancement of the U.S. economy, Case-Shiller published the statistics on housing prices in the major metropolitan areas in the country. This index is a common measure that is touted by most of the major news sources and business publications such as the Wall Street Journal, Forbes, Fortune and the Disneyland Weekly.
If you only want the cliff notes version, then here's the conclusion: U.S. residential real estate continues to advance in nearly all the major geographic areas. Portland, OR leads the group with a 12.4% year-over-year gain, but Seattle and Denver were also strong. The index that reflects the Case-Shiller measure is just shy of the record set in late 2006.
This measure does not measure residential real estate in the smaller areas found int he Midwest or plains' states. We suspect that this helps illustrate the divergence in financial gains between the major coastal states and those in the center of the country.
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Home price gains in July slow according to the S&P Corelogic Case-Shiller indices
Mike & the Berkeley team
Given the pending presidential election in 2 months, the news released yesterday about improving wages and general economic growth in the U. S. (still slow but steady) is providing Democrats something to tout, while Republican’s initial response is somewhat muted. The Washington Post which frequently considers the political implications of such news posted the attached article on the 2015 census data. The Washington Post included quotes from Jason Furman, chairman of Obama's Council of Economic Advisers, the House Ways, and Means Committee Chairman, Kevin Brady (R-Tex.)
The Wall Street Journal reported the data in a similar format. The primary difference between the two articles was The Wall Street Journal provided just the facts. Readers can conclude any positives in the economy or social welfare of US citizens will thus be heavily used by both parties in general speeches and during the presidential debates.
A significant caveat to the substantial gains is the wage increases applied primarily to those living in urban areas, while rural wages have remained flat. This further illustrates the basis for the political division in the country. Most rural states lean and vote Republican, while the more urbanized states side with the Democrats.
Middle class incomes had their fastest growth on record last year by Jim Tankersley
Occasionally we like to post articles that give you some insight into how we form our opinions or stay informed.