America’s Weird, Enduring Love Affair With Cars and Houses

Derek Thompson | The Atlantic | Feb 25 2014 | link
$1 of every $2 Americans spend is on real estate and transportation. It doesn’t have to be that way.
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Houses and cars. They fatten the economy and thin our wallets. Without them, recoveries don’t feel like recoveries. The real estate and auto industries account for $1 in every $2 spent by the typical U.S. family, according to the Bureau of Labor Statistics. Here’s your color wheel of spending… A more detailed recent report shows how families with different education backgrounds—a common and useful proxy of income level—divide their cash between movies, mortgages, and dinners at restaurants. Read more…]]>

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