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Category Archives: Housing

Why Have Americans Stopped Moving?

SafeHaven: “A new study identifies powerful psychological factors that connect people to places, and mean more to them than money. Mobility in the United States has fallen to record lows. In 1985, nearly 20 percent of Americans had changed their residence within the preceding 12 months, but by 2018, fewer than ten percent had. That’s the lowest level since 1948, when the Census Bureau first started tracking mobility. The decline in Americans’ mobility has been staggering, as the chart below shows. Mobility rates have fallen for nearly every group, across age, gender, income, homeownership status, and marital status. Declining mobility contributes to a host of economic and social issues: less economic dynamism, lower rates of innovation, and lower productivity. By locking people into place, it exacerbates inequality by limiting the economic opportunities for workers…

A wide range of explanations have been offered to account for these substantial declines in mobility. Many consider the culprit to be the economic crisis, which locked people into declining-value homes; others attribute it to the huge differential in the housing prices in expensive cities. Some economists contend that job opportunities have become similar across places, meaning people are less likely to move for work; others see rising student debt as a key factor that has kept young Americans in their parents’ basements…”

United States Congress Creates AI Task Force

“Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, announced the creation of a Task Force on Artificial Intelligence chaired by Congressman Bill Foster (D-IL).  “I am excited to Chair the Financial Services Committee’s Task Force on Artificial Intelligence and I thank Chairwoman Waters for her foresight in creating this important… Continue Reading

Visualizing Income Inequality in Boston

“The Atlas of Inequality is a project from the Human Dynamics group at the MIT Media Lab and the Department of Mathematics at Universidad Carlos III de Madrid. It is part of a broader initiative to understand human behavior in our cities and how large-scale problems like transportation, housing, segregation or inequality depend in part… Continue Reading

OECD survey of 21 counties – many people unhappy with public services and benefits

“Many people in OECD countries believe public services and social benefits are inadequate and hard to reach. More than half say they do not receive their fair share of benefits given the taxes they pay, and two-thirds believe others get more than they deserve. Nearly three out of four people say they want their government… Continue Reading

The economic costs and benefits of Airbnb

Economic Policy Institute – No reason for local policymakers to let Airbnb bypass tax or regulatory obligations. “…In our cost-benefit analysis, we find: The economic costs Airbnb imposes likely outweigh the benefits. While the introduction and expansion of Airbnb into U.S. cities and cities around the world carries large potential economic benefits and costs, the… Continue Reading

20 percent of Americans have no emergency savings

Axios: “Nearly 20% of Americans surveyed say they have zero savings in case of emergency, a recent survey by bankrate.com reports. Why it matters: With the jobs outnumbering the jobless, a lowering unemployment rate and wages trickling upward, Americans theoretically should have more money to put away for a rainy day fund. If an economic… Continue Reading

Unpaid Federal Workers Owe $438 Million in Mortgage and Rent Payments This Month

Zillow Research: Federal employees who are not being paid during the shutdown and own their homes make about $249 million in monthly mortgage payments. Those who rent pay about $189 million for housing each month, according to a recent HotPads analysis. About 3,900 mortgage originations are processed each business day for loans backed directly by… Continue Reading

Federal government was bleak workplace for past 2 years and worsened after the shutdown

Washington Post: “Over two years, the Trump administration has dealt blow after blow to government employees — budget cuts, hiring freezes, inept Cabinet secretaries and, for some, open hostility to their fundamental mission. President Trump promised to shake up Washington, and he has. But the country’s 2 million federal workers have mostly soldiered on, believing… Continue Reading

A Lot of Government Information Is Freely Available

GAO Watchblog: “From health and education statistics to budget and spending information, the federal government produces a lot of information, or data. Agencies are making more and more of this data open for everyone to use. Our recent report identified 5 key practices that can help the government’s open data reach a wide range of… Continue Reading

Nearly 75% Of Coastal States Aren’t Prepared For Sea Level Rise

Forbes: “…As climate change progresses, storms will increase in strength,  sea levels will rise more rapidly, U.S. coasts will flood more frequently, and shoreline properties will disappear. Each year, $500 million worth of coastal structures are lost as coastlines disappear. The federal government spends nearly $150 million each year to manage the loss of beaches and coastal real estate. Two-thirds of… Continue Reading

How private equity firms are fueling the housing crisis

New York Magazine – Intelligencer: “Nationwide, single-family homes — white-picketed symbols of the American Dream — are increasingly owned by far-flung investors, with the percentage held by landlords growing from 13 percent nationally to 17 percent between 2008 and 2016, according to the Census Bureau’s American Community Survey. These homes are offered to local residents… Continue Reading