Home inequity: Study finds income, job rut for millions in U.S.
At a time when evictions and mortgage defaults have been likened to an oncoming tsunami across America, a big-data study of loan-to-value ratios in the wake of the 2007-08 recession carries a cautionary forecast for vexing economic weather ahead: The higher a worker’s outstanding mortgage relative to their home value, the worse their future income growth and job mobility.
New research reveals surprising lifetime risk of economic insecurity among Americans
Recent economic events have shaken the confidence of many Americans with respect to their ability to achieve the “American dream.” “With rising numbers of home foreclosures, job cuts, and loss of savings, more Americans are encountering severe periods of economic risk and insecurity in their lives,” says Mark R. Rank, Ph.D., poverty expert and professor of social work at Washington University in St. Louis.