Incomes Fell in Miami/Fort Lauderdale in 2009: More Bad Economic Signs

More not so great news for the Miami/Fort Lauderdale region.  Shouldn’t it be harder for cities to keep increasing taxes with per capita incomes falling so much?  Miami/Fort Lauderdale per capital incomes fell by 3.9% from 2008 to 2009.   Per capita incomes increased by only 0.9% in 2008

Income declined in 223 metro areas last year, increased in 134 and was unchanged in nine regions. Even though prices declined last year — down 0.2% from a year earlier as measured by the national price index for personal consumption expenditures — incomes fell even more. On average, personal income dropped 1.8% in 2009, following a 2.7% increase in 2007.

via U.S. Incomes Tumbled in 2009 – Real Time Economics – WSJ.

About Stephen E. McGaughey
Resident of the City of Coral Gables

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: