Social Security narrows wealth gap between high- and low-income households

A working paper from the Federal Reserve Bank of Boston presents a new conceptualization of household wealth that accounts for the patterned availability of wealth components across the population. Specifically, the authors extend the definition of wealth beyond market-based assets to also include estimated pension and Social Security distributions, which are critical elements of retirement-financing… Read more »

Reducing the Black-white racial wealth gap will require dedicated and comprehensive policy solutions

A new issue brief from the Center for American Progress examines the Black/white wealth gap and summarizes a set of proposals and policy actions to address the gap. Some recommendations include allowing the U.S. Postal Service to conduct banking services to increase community access; investing in research and development opportunities for Black innovators and inventors;… Read more »

The Tight Housing Market Boxes Out Government-Insured Borrowers, Widening Homeownership Gaps

A recent post from the Urban Institute highlights the ways in which lower income borrowers are disadvantaged in the current housing market. The authors suggest that the pandemic-era housing market favoring sellers facilitates discrimination against buyers using loans from the Federal Housing Administration and U.S. Department of Veterans Affairs. Urban’s analysis of government and government-sponsored… Read more »