Durham and Raleigh Residents Big Spenders

According to a News and Observer blog, Durham and Raleigh are home to some of the biggest spenders in the country on things like food, shopping, and travel. A survey done by Bundle.com ranks Raleigh as number 6 and Durham as number 10 on the list of highest-spending cities. The report shows that Durhamites spend just over $10,000 per year on food and drinks, about $700 ahead of San Francisco. Austin, Texas is number one on the list. Observers think the reason Raleigh and Durham spend so much more than major markets like New York and L.A. is that the cost of housing is far less. For the full story from the News and Observer, click here.