Mike Schneider Associated Press Published 12:18 PM EDT Sep 26, 2019 Orlando, Fla. – The gap between the haves and have-nots in the United States grew last year to its highest level in more than 50 years of tracking income inequality, according to U.S. Census Bureau figures released Thursday. Income inequality in the United States expanded from 2017 to 2018, with several heartland states among the leaders of the increase, even though several wealthy coastal states still had the most inequality overall, according to the figures. More: Michigan incomes edge up, search database for data on your area The nation’s Gini Index, which measures income inequality, has been rising steadily over the past five decades. The Gini Index grew from 0.482 in 2017 to 0.485 last year, according to the bureau’s one-year American Community Survey data. The Gini Index is on a scale of 0 to 1; a score of “0’’ indicates perfect equality, while a score of 1 … [Read more...] about Census: U.S. inequality grew, including in heartland states
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A prospective buyer enters a home for sale in Peoria, Ill., on May 30, 2019. Bloomberg photo by Daniel Acker. More Americans are living mortgage-free, according to a Zillow data analysis. About 37% of U.S. households are "free and clear," meaning they no longer have a home mortgage to pay, the real estate data firm said. The number has ticked upward after the recession. Over the past 10 years, the share of homeowners paying off their mortgages has risen 5.5 percentage points. "In general, higher home equity is financially preferable, and the rise in mortgage-free ownership is in line with brighter economic conditions, which is why we've seen the free-and-clear share increase over the last decade," said Javier Vivas, director of economic research at Realtor.com. An aging population and change in owner demographics also are factors behind the increase, according to Zillow. Younger Americans are likely to wait longer to a buy homes in part because of rising living costs and student … [Read more...] about Mortgages paid off for 37% of U.S. homes, data show
A report by San Diego Workforce Partnership and Measure of America has found progress is being made in reducing the number of youth living in the county who are not in school and unemployed, factors that put them at greater risk of becoming homeless. But more work needs to be done.“Things are definitely improving,” said Laura Kohn, San Diego Workforce Partnership’s director of communications and local income mobility. “What we learned in this latest data release was the rate of youth disconnection continues to decline, and the rate of improvement in San Diego County was faster than the nation as a whole.”The official report will be released May 2 at the partnership’s third annual Opportunity Summit at the Town and Country Resort, but its findings were discussed at a recent webinar attended by Kohn, Workforce Partnership’s Chief Operating Officer Andy Hall and Kristen Lewis, director of Measure of America, a nonpartisan research and advocacy … [Read more...] about Report: Progress made to increase number of youth working, in school in San Diego County
Metro Denver residents are more inclined to dance the hokey pokey when it comes to homeownership. They put their left foot in and then pull their left foot out, they pack the moving van and head the family out. Out of the 50 largest metros in the country, metro Denver residents stayed in their homes the fifth shortest amount of time on average, according to a new study from LendingTree, an online mortgage brokerage. Metro Denver homeowners sit on their abodes an average of 6.63 years, according to the study, which is based on the latest American Community Survey put out by the U.S. Census Bureau. That average includes all the stalwarts who have stayed put 50 or 60 years. So the households that do move around are probably spending less time than that average in one place. Only owners in Las Vegas at 6.36 years; Phoenix at 6.43 years; Austin, Texas at 6.49 years; and Orlando at 6.59 years put down shallower roots after purchasing a home. RELATED: Home prices fall … [Read more...] about Denver-area residents house hop faster than most of the U.S.
Every strategic business person knows that information is power, and the best place to start gathering intelligence is the U.S. Census Bureau. Want to know how many people live within a 3-mile radius of a high-traffic intersection? Census Bureau data can tell you, along with their average income, ethnic make-up and average age. “If you’re a business owner, and you’re looking at where to locate, or to relocate if you're considering expansion, you want to know where your customers are located,” said Aaron Cox, senior vice president for membership at the Texas Association of Business. “You want to be sure you are making the right decisions, that you are going to the right places.” Decisions, though, are only as good as the intelligence informing them. Over the next 18 months, the business community needs to do everything possible to make sure the 2020 Census is as complete as possible. On HoustonChronicle.com: Who is middle class, and where are they … [Read more...] about Business community needs accurate Census Bureau data, must push for maximum participation