The Federal Reserve reports on the findings of the 2020 Survey of Household Economics and Decisionmaking (SHED). Although overall financial well-being fluctuated throughout 2020, by the end of the year financial well-being was back to 2019 levels, with 75 percent of adults at least doing okay financially. However, this was true of just 45 percent … Read more
Only 53 percent of Black household heads owned homes in March 2020, compared with 78 percent of white household heads, according to the US Census Bureaus Current Population Survey. Racial discrimination in lending and the labor market, residential segregation, and exclusionary zoning restrictions contribute to Black families lower homeownership rates and to the broader wealth … Read more
Homeownership is one of the most widespread and effective ways families can build intergenerational wealth. Though it is not the best option for everyone, evidence shows homeownership is still financially better than renting. But housing equity is not shared evenly. The homeownership gap between Black families and white families is wider today than it was … Read more
New research out of Oregon State University published in the journal Social Policy Administration finds that more than three quarters of low- to moderate income U.S. households are below the asset poverty threshold, wherein the household does not have enough financial assets to withstand three months without income. This is particularly relevant as the pandemic … Read more
