I recently wrote about sustainable asset value. That is, buying things that tend not to depreciate rapidly in value. Gripping, I know. At the end of it I said this:
"Over half of the expenditures in the US are on shelter and transportation ($17,000 and $9,000 making $26,000 of the $50,000 total). More than half of our money goes towards moving you around and housing you."
I always wonder about the accuracy of the numbers I come up with, but then HUD just released this statistic two days after I posted about it. According to them nearly 60% of the average American's income goes to housing and transportation... Hm, so who reads this blog - seriously?