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27 Jul 2011 14:43

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U.S.: Pew study: There’s a massive wealth gap along racial lines

  • $113,149 average net worth of a white household in 2009
  • $5,677 average net worth of a black household in 2009 source
  • » That is a stark difference. In their latest study, Pew compared the net wealth of families in various racial groups and found that blacks and Latinos in particular did very poorly compared to whites. (Asians, on the other hand, were somewhat within shouting distance. EDIT: Please see explanation.) This is a historic trend which has lasted decades, but has become all the more apparent with the Great Recession. “The bursting of the housing market bubble in 2006 and the recession that followed from late 2007 to mid-2009 took a far greater toll on the wealth of minorities than whites,” Pew writes in its study. While net wealth among whites fell roughly 16 percent, blacks families lost about 53 percent, and Latino families lost the most — losing 66 percent of their wealth on average.
Posted by Justin Jones • 0 Comments • Permalink

31 May 2011 10:46

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Biz: Key economic indicator: Homes see double-dip in prices (uh-oh)

  • bad The Standard & Poor’s/Case-Shiller home pricing index, a key economic indicator which compares home prices in the top 20 U.S. markets, fell heavily in March compared to a year earlier.
  • worse The numbers confirm a double-dip in home prices (below April 2009’s previous nadir), which could spell bad news. Does a double-dip in home prices mean a double-dip for the overall economy? source
Posted by Ernie Smith • 0 Comments • Permalink

23 May 2011 21:51

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U.S.: Silver lining: Financial meltdown saved marriages!

  • 5% of married couples were considering a divorce prior to the recession
  • 38% of those couples put their plans on hold once the recession hit source
  • » Follow our logic here: George W. Bush fancied himself a man of family values, right? And surely, there’s no greater family value than the institution of marriage. The economic policies put forth by Bush plunged our country into a recession, at which point couples that may have gotten divorced stayed together due to lack of funds. So in a weird way, Bush accomplished his goal. He saved marriage! Yay! This theory is perfect!
Posted by Seth Millstein • 0 Comments • Permalink

12 Oct 2009 11:24

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Biz: Daily Poll: Is the recession easing in your neck of the woods?

  • A survey of 44 professional forecasters found that 80% of those researchers thought the “Great Recession,” the worst since the 1930s, was receding. The National Association of Business Economists conducted the survey. Our question: Instead of asking a bunch of economists, let’s ask you jerks. Unless there’s economists that read ShortFormBlog. Then you can’t vote. You might skew things. (Sorry.)source
Posted by Ernie Smith • 0 Comments • Permalink
 
 
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