Pretty much any adult with a rudimentary degree of financial knowledge is aware of the impact that interest rates have on housing. Lower rates make monthly payments cheaper and higher rates make monthly payments more expensive on a relative basis. Since nearly all homes are financed, rates impact buyer demand and prices rise and fall accordingly.
What’s far less understood is the impact that housing costs have on interest rates. Let me explain: the cost of shelter is basically a necessary evil. Houses are not a particularly dynamic economic investment yet still represent the largest “asset” that most people own. […]
View Original: How Housing Costs Affect Interest Rates
STATE OF THE UNION
PATHWAYS â€¢ The Poverty and Inequality Report 2016
economic mobilityKEY FINDINGSâ€¢ When compared to 24 middle-income and high- income countries, the U.S. ranks 16th in the amount of intergenerational earnings mobility.â€¢ The relatively low level of mobility in the U.S. may arise in part because low-income children in the U.S. tend to have less stable and lower- income families, less secure families, and parents who have less time to devote to their children.It is often claimed that there is much tolerance in the U.S. for high levels of inequality, as long as that inequal- ity arises from […]
View Original: The Stanford Center on Poverty and Inequality
by Jon Pareliussen, Swedish Desk, Country Studies Branch, OECD Economics Department
“Equality is a utopia (…) that must be constantly redefined and constantly conquered anew.”
-Olof Palme, 30 July 1965.Equality, a long-standing hallmark of Swedish society, carries multiple benefits in terms of economic performance, trust, opportunity and well-being. Income inequality is relatively low in Sweden compared to the OECD average, but a rapid rise from the 1990s calls for new efforts to redefine and re-conquer equality once again. Chapter one in the new Economic Survey is dedicated to understanding and addressing the rise of inequality in Sweden (OECD, 2017).Top […]
View Original: Conquering utopia anew – Income inequality in Sweden
Author, The Way Back: Restoring the Promise of America Frank Buckley is a Foundation Professor at Scalia Law School at George Mason University, where he has taught since 1989. Previously he was a visiting Olin Fellow at the University of Chicago Law School, and he has also taught at McGill Law School, the Sorbonne, and Sciences Po in Paris. He received his B.A. from McGill University and his LL.M. from Harvard University. He is a senior editor of The American Spectator and the author of several books, including The Once and Future King: The Rise of […]
View Original: Restoring America’s Economic Mobility
Riverdale, N.Y. – According to a comprehensive new study on student economic mobility by UC Berkeley and the U.S. Department of the Treasury, the College of Mount Saint Vincent shares third place among 578 selective independent colleges and universities nationwide. Mount students experience greater upward mobility than those of all but two colleges and universities across the country.
Using data from millions of anonymous tax filings and tuition records from 1999-2013, the college mobility ranking measures Mount Saint Vincent’s share of students who moved from the bottom fifth of incomes as students to the top fifth as adults.
The New […]
View Original: College of Mount Saint Vincent Ranks Third Nationally in Student Economic Mobility
Demonstrators hold aloft signs at the conclusion of a rally near Trump Tower in New York City on November 12, 2016. (AP / Albin Lohr-Jones) This fall’s election highlighted a deep undercurrent of anxiety that the American Dream is eroding.
People have real reason to be worried. New data from Stanford’s Raj Chetty illustrates that with every passing decade since the 1940s, Americans have become less and less likely to out-earn their parents.
Donald Trump tapped into that anxiety to great effect. But blaming immigrants, weakening labor unions, eliminating health care coverage for millions of Americans, privatizing infrastructure, and rolling back […]
View Original: In the Age of Trump, Cities Will Lead the Way Toward Increased Economic Opportunity
The University of North Carolina released its strategic plan a couple weeks ago. Documents like this usually aren’t very exciting, but this one has far-reaching implications for our state. Included in the mix: a commitment to enroll more low-income and rural students and help them get all the way to graduation. And a pledge to keep the system affordable and accessible for qualified in-state high school students.
Why does this matter? Because in an age of growing income inequality when having a well-prepared workforce is critical, this commitment is vitally important for North Carolina’s future.
As we have written in the […]
View Original: What are the best NC colleges to improve your financial future?
For more than 70 years, hard-working Americans have been beset by economic stagnation and decline. C hildren who are born into low- and even high-income families are no more likely—and more often than not, less likely —to earn more than their parents than children born in the 1940s , captured strikingly in a new report from The Equality of Opportunity Project . Also stuck in the economic doldrums: those among the roughly 25% of U.S. workers doing freelancing, gig work and other contingent jobs, without full safety nets and sometimes working part time. Then there are the 16- to […]
View Original: 3 Ways to Make America’s Economy Great Again
SAN FRANCISCO — Public trust in colleges and universities is eroding at a time when liberal education is crucial — and institutions must respond aggressively. That was the current running through several panels here Thursday at the annual meeting at the Association of American Colleges and Universities.
“A liberal arts education is situated as reserved for those within the ivory tower, reflecting a willful disconnect from the practical matters of everyday life,” said Lynn Pasquerella, president of the AAC&U, during a plenary address called “Always on the Fringe: Closed Futures and the Promise of Liberal Education.” It’s a trend that’s […]
View Original: Today’s News from Inside Higher Ed
Economic Mobility Hindered by Limited Access to Higher Education
The New York Times reported on a recent study on Jan. 18 titled “Mobility Report Cards: The Role of Colleges in Intergenerational Mobility” published by The Equality of Opportunity Project. The study ranked the University sixth of 38 colleges that have more students from the top one percent than the bottom 60 percent. The University has 20.4 percent of students from the top one percent in contrast to 12.2 percent of students from the bottom 60 percent.
Vice President for Enrollment Management Bill Conley was not surprised with the University’s […]
View Original: Investigative: NYT reports that more University students are from the top one percent than the bottom 60 percent