posted on Feb, 28 2013 @ 11:33 AM
Now this is an attention grabber. I knew things were rough but I hadn't appreciated how rough it actually was for average American households.
Looking to buy a new car, truck or crossover? You may find it more difficult to stretch the household budget than you expected, according to a new
study that finds median-income families in only one major U.S. city actually can afford the typical new vehicle.
One city? Which could that be, I wonder? One city does seem to be having parties and celebrations as if nothing bad were happening in our
economy..could it be? Why, yes.. It is!
According to the 2013 Car Affordability Study by Interest.com, only in Washington could the typical household swing the payments, the median
income there running $86,680 a year. At the other extreme, Tampa, Fla., was at the bottom of the 25 large cities included in the study, with a median
household income of $43,832.
Apparently, working for the Government is the best path for solid earnings and economic options these days. Perhaps this is why so many inside the
beltway seem tone deaf and oblivious to the pain of the rest of the nation?
Bottom line? A buyer in the capital can purchase a car with a sticker price of $31,940, slightly more than the new vehicle average for the 2013
model year and about what it would cost for a mid-range Ford Fusion sedan or a stripped-down BMW X1 crossover. The buyer in Tampa? They'll just
barely cover the cost of a basic Kia Rio, with $14,516 to
Enjoy your Kia, America! This sounds like the modern version of 'Let them eat cake!'. Well.... I like their cake better. I think income
redistribution is called for. Lets start in D.C. where it seems the rich folk are, with all that money they're hoarding, while telling us all with a
straight face that things have never been better for improvement and recovery. Err.. wait, is this recovery week or doom week? It does seem to change,
one week to the next, which message Washington is pushing...eh?