Here’s why homeownership gaps exist

new homeowners

Flickr/Brent and Amanda I Homeownership is a goal shared among all people, regardless of race or ethnicity, and remains the main driver of wealth creation for the majority of households in the United States. That is why it is vital to understand the underlying characteristics that influence the probability of homeownership. Over the last several months, my research has explored the influence of marital status and family formation , education , income and economic factors on homeownership rates. Today, I examine how ethnicity impacts the probability of homeownership.

Not surprisingly, ethnicity and homeownership rates is a frequent topic of research […]

Crisis in reverse

David Paul Morris / Bloomberg files</p&gt<p&gtCutline here (this is San Francisco BTW).</p&gt


Advertise With Us Previous eras saw populations fleeing urban centres — now they’re coming back

David Paul Morris / Bloomberg files In The New Urban Crisis Richard Florida, an American University professor and current director of the Martin Prosperity Institute at the University of Toronto, compellingly and convincingly defines the problems facing today’s cities and their suburban counterparts.During the "old" urban crisis of the 1960s and 1970s, the suburban exodus left city centres hollowed out, poor and crime-ridden. Now, according to Florida, we face the "new" crisis in which the technology, knowledge and creative workers are returning and […]

Occidental Tops for Quality, Economic Mobility

news default image Thorne Hall newsroom

Occidental is one of the country’s top liberal arts colleges as measured by the quality of education and the economic mobility it delivers to its students, according to new rankings from the Wall Street Journal and The New York Times . In the inaugural Wall Street Journal /Times Higher Education college rankings , Occidental emerged as No. 27 among liberal arts colleges. Unlike many other college rankings, the WSJ/THE list focuses not on test scores and acceptance rates but such factors as resources devoted to academic programs, effective student engagement, graduation rates, and alumni salaries.

“We focus on what students […]

The concept of “fissure” explains a lot of what’s wrong with the economy

There was a time if you looked around your office everyone was an employee of the company’s whose name was on the door. Now, odds are the person you call for tech support, the person at the front desk, and the cleaning staff all work for someone else, namely a firm that supplies contractors to companies like yours. This is known as workplace fissure.

Research by economists Larry Katz and Alan Krueger has explored the trends in alternative work arrangements like these (pdf). They estimate that non-standard employment (gig work, temp work, contractors) accounted for a around 10% of American […]

How Child Care Enriches Mothers, and Especially the Sons They Raise

Jasmin Cross trying to study while her sons, Sebastian and Vyvyan, played in their home in Portland, Ore. She attends a community college and their father works full time, which she said they could not do without free child care through Head Start. As many American parents know, hiring care for young children during the workday is punishingly expensive, costing the typical family about a third of its income.

Helping parents pay for that care would be expensive for society, too. Yet recent studies show that of any policy aimed to help struggling families, aid for high-quality care has the […]

Seven Years Later: Where is the BP Settlement Money? – WKRG

WKRG Seven Years Later: Where is the BP Settlement Money?
Seven years after the horrific explosion of the Deepwater Horizon oil rig, Alabama is the only one of the five allotted Gulf Coast states that has not started spending its portion of the Revived Economies of the Gulf Coast States Act (RESTORE ACT) on …
Mississippi to spend $50 million oil spill money on 3 projects WPMI Local 15 News April 21, 2017 at 10:58AM from

Archbridge Institute Releases Optimistic New Research on Economic Mobility

There is a new think tank in town: the Archbridge Institute , led by Gonzalo Schwarz, formerly of the Atlas Network. Their work focuses on economic mobility around the world. They recently released a study by Scott Winship , the first in a three-part series examining the issue. His primary finding is that relative mobility in the U.S. isn’t very strong—children born into middle class families tend to stay middle class, and children born into poor families tend to stay poor. But what about absolute mobility? The executive summary states:

[R]oughly three in four adults—and the overwhelming majority of poor […]

NYC’s Top 0.1 Percent Makes Four Times The Income Of The Bottom Half Of Earners


New York’s richest have gotten richer since 2006 as its poor have gotten poorer, according to a study published Wednesday by the city’s Independent Budget Office.

Drawing from annual samples of 770,700 income tax returns, the agency analyzed New York City residents’ earnings for each year from 2006 to 2014, extrapolating to the total tax-paying population of 4 million, and adjusting for inflation so that each year’s figures are directly comparable.

"We all know that the city is very unequal," said Debipriya Chatterjee, the IBO economist who analyzed the figures. "What I did not anticipate seeing in the data is that […]

From the departments of overkill and “what are they afraid of?”: Lawmakers advance anti-union constitutional amendment

In 2017, there can be no doubt that North Carolina is one of the most hostile states in America to labor unions. In a time in which corporate greed already reigns supreme and corporate-sponsored politicians have been waging an unrelenting and frequently successful war on working people and their families, generally, the union movement in North Carolina is a small and beleaguered cause. Though it is often enormously creative, plucky, and determined and doing great things for all working people in the state (not just the tiny fragment of the workforce it represents officially), the North Carolina union movement […]

$8B BP oil spill settlement: Who really reaps the benefits?

OFF THE LOUISIANA COAST---The Premiere Explorer of Venice, La. stands by near a controlled burn of spilled oil from in the Deepwater Horizon/BP oil spill in the Gulf of Mexico June 9, 2010. Coast Guard Photo by Petty Officer First Class John Masson. (Photo by Deepwater Horizon Response)

OFF THE LOUISIANA COAST—The Premiere Explorer of Venice, La. stands by near a controlled burn of spilled oil from in the Deepwater Horizon/BP oil spill in the Gulf of Mexico June 9, 2010. Coast Guard Photo by Petty Officer First Class John Masson. (Photo by Deepwater Horizon Response) (MintPress)—British Petroleum (BP) recently announced it has reached an estimated $7.8 billion settlement with the Plaintiffs’ Steering Committee (PSC) in order to resolve economic loss, property damage and medical claims from the 2010 Deepwater Horizon accident and oil spill in the Gulf of Mexico, pending final approval by U.S. District Judge […]