According to the Huffington Post, due to $5 million in cuts to the Supplemental Nutrition Assistance Plan, known as the food stamp program, Thanksgiving dinner could be substantially smaller for the 42 million Americans that rely on the program.
Since 2007 the number of individuals dependent on food stamps increased by 70 percent, according to the Sunlight Foundation Reporting Group. With cuts to the federal plan, food pantries and food banks nationwide are expected to see more visitors this holiday season.
Source: Emmile Buchanan-Whitelock (compiler), DESERET NEWS NATIONAL (November 25, 2013), http://national.deseretnews.com/article/659/Food-stamp-cuts-leave-many-Thanksgiving-dinners-feeling-thin.html.
Monday, November 25, 2013
Prices Rising: New California Home Buyers Shut Out of Silicon Valley
According to the San Jose Mercury News, local MLS (multiple listing service) reports show a rise in single-family home sales in Silicon Valley. However, rising home prices and interest rates have made home ownership less affordable in California, particularly in Silicon Valley. Compared to October 2012, median prices in San Benito, Santa Clara, and Santa Cruz counties have all risen between 12 and 45 percent.
The Mercury reports that home buyers need to earn a minimum annual income of $165,420 to qualify to purchase an $805,000 median-priced, single-family home. Carolyn Miller, President of the Silicon Valley Association of Realtors, states that "with Silicon Valley's economic recovery, there is no doubt that it has become more difficult for home buyers, especially first-time home buyers, to purchase a home in the region."
Source: Rose Meily, High home prices shut out buyers, SAN JOSE MERCURY NEWS (November 18, 2013) http://www.mercurynews.com/news/ci_24550995/high-home-prices-shut-out-buyers.
The Mercury reports that home buyers need to earn a minimum annual income of $165,420 to qualify to purchase an $805,000 median-priced, single-family home. Carolyn Miller, President of the Silicon Valley Association of Realtors, states that "with Silicon Valley's economic recovery, there is no doubt that it has become more difficult for home buyers, especially first-time home buyers, to purchase a home in the region."
Source: Rose Meily, High home prices shut out buyers, SAN JOSE MERCURY NEWS (November 18, 2013) http://www.mercurynews.com/news/ci_24550995/high-home-prices-shut-out-buyers.
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