On Our Radar

New York Times, February 10, 2023, Are Tiny Homes a Solution to the Housing Crisis? A tug of war is being waged over the size of the American home. Pulling in one direction are the forces of expansion: the well-financed dream for many of a sprawling single-family house; the NIMBY activism that prevents the incursions […]

CNBC, February 10, 2023, The barriers Black families face in building generational wealth The racial wealth gap in the US is stark. For every $1 of wealth held by a white family, a Black family had just $0.25 in 2022, according to the Federal Reserve Bank of St. Louis. Black families face unique, racist barriers to

American Dream for Rent, February 9, 2023, American Dream For Rent: Investors zero in on Black neighborhoods  Wall Street landlords are more than twice as likely to buy homes in African American neighborhoods than majority white communities, the AJC analysis shows. Large investment firms, backed by billions of dollars, have scooped up so much inventory

The Wall Street Journal, February 13, 2023, Inflation Is Falling, and Where It Lands Depends on These Three Things The end of distressingly high inflation is coming into view. Consumer prices gained 6.5% in December, down from June’s 9.1% annual rate, the highest since 1981. There is good reason to think inflation will keep falling, Federal Reserve Chairman Jerome Powell said

American Banker, February 8, 2023, Black-Owned Bank in Ohio is First De Novo Approved in 2023 Adelphi Bank, a Black-owned de novo in Ohio, won regulatory approval to become the first new U.S. bank of the year. Adelphi, a minority depository institution, was cleared for opening by the Federal Deposit Insurance Corp. and is planning to launch

The Washington Post, February 8, 2023, Social Security, Medicare Brawl Awaits Washington, Even if not This Year Leaders of both parties have become unwilling to discuss potential changes to Social Security and Medicare — even as time dwindles before they reach financial insolvency and benefit reductions for tens of millions of American seniors will automatically

American Banker, February 8, 2023, What Comes Next For The Federal Home Loan Bank System? he Home Loan banks play a critical role in supporting housing finance and community development throughout the country. They do so by providing low-cost funding to their member financial institutions (that is generally collateralized by housing or real estate assets),

The Washington Post, February 9, 2023, See How Many All-Cash Buyers Snagged Houses in Your Neighborhood Rising interest rates, soaring home prices and decreasing inventory aren’t the only things making it difficult to buy a home these days. Last year, nearly a third of U.S. homes were purchased with cash,according to data provided by the

Consumer Financial Protection Bureau, February 7, 2023, CFPB Issues Guidance to Protect Mortgage Borrowers from Pay-to-Play Digital Comparison-Shopping Platforms Today, the Consumer Financial Protection Bureau (CFPB) issued an advisory opinion to protect Americans from double dealing on digital mortgage comparison-shopping platforms. Companies operating these digital platforms appear to shoppers as if they provide objective lender

American Banker, February 6, 2023, CFPB redlining lawsuit against nonbank mortgage lender gets dismissed A federal judge has dismissed a redlining lawsuit filed by the Consumer Financial Protection Bureau against a Chicago mortgage lender, rejecting the bureau’s argument that a key anti-discrimination law protects prospective borrowers. On Friday, Judge Franklin U. Valderrama of the U.S.

The Wall Street Journal, February 6, 2023, Banks are Hemorrhaging Deposits at Record Rate U.S. banks shed $206 billion in deposits in the third quarter, the second biggest decline on record. That extended the second quarter’s $370 billion decline and marked the first consecutive quarterly declines since 2010, according to the most recently available FDIC data back to 1984.

Huffpost, February 6, 2023, Why Rival Sides In The Housing Crisis Plaguing Major U.S. Cities Are Considering Peace Amid growing concern over the lack of affordable housing in major U.S. metropolitan areas, a movement of college-educated young professionals has arisen to challenge local resistance to liberalizing zoning laws that prevent the construction of more housing.

The New York Times, February 1, 2023, The Next Retirement Communities Won’t Be Just for Seniors New developments that integrate senior housing into age-diverse apartment buildings offer a more affordable alternative to isolated suburban retirement communities.

Politico, February 1, 2023, Biden to remake economic team with Brainard, Bernstein poised for top roles President Joe Biden is poised to shake up his leadership team with two veteran economic minds likely to assume new roles just as he faces his best chance yet to avoid a recession that could derail his reelection effort.