How Homeownership Has Changed Since the 1960s

first_imgHome / Daily Dose / How Homeownership Has Changed Since the 1960s Data Provider Black Knight to Acquire Top of Mind 1 day ago How Homeownership Has Changed Since the 1960s Racial disparity has widened since 1960 — Citing a report from the U.S. Department of Housing and Urban Development (HUD), The Zebra reported that, while both white and Black Americans now have higher homeownership rates than they did in 1960, the gap between these two groups has widened.In 1960, 64.4% of white Americans and 38.4% of Black Americans owned homes, a difference of 26 percentage points. In 2020, 75.8% of white Americans and 46.4% of Black Americans owned homes, a difference of 29.4 percentage points.More single women own homes —  Less than 0.1% of women ages 18–34 lived alone in their own homes 60 years ago, but that same group now represents 1% of all homeowners in the United States.Living alone is more common among all Americans — just 6.4% of Americans lived alone in 1960, whereas 28.3% of Americans now live alone.Fewer Americans live with spouses — more than 70% of Americans lived with a spouse in 1960, but today that group comprises only 51.5% of adults. By contrast, many more Americans now live as unmarried partners — 7.3% in 2020 compared to only 0.4% 60 years ago.More than half of all young Americans now live with their parents — Among 18 to 34 year olds, nearly twice as many people live at home with their parents in 2020 than in 1960. 22% of 18-34 year old men live at home now as opposed to just 10.9% in 1960.Older Americans live alone rather than with family — in 1960, 20% of men and 40% of women over age 75 lived with their families. In 2020, just 6% of men and 19% of women over 75 live with their families. Today, one of every two older American women live alone, and 4.5% of all Americans over 65 live in nursing homes or other similar facilities.The authors of the report surmise that 2021 presents its share of obstacles for Americans who hope to achieve and maintain homeownership and those who represent them.”With growing housing issues related to affordability, foreclosure, eviction, racial disparity and homelessness, the coming years represent a formidable challenge for politicians and community leaders hoping to provide stable lives for Americans,” the researchers conclude. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Share Save Data Provider Black Knight to Acquire Top of Mind 1 day ago About Author: Christina Hughes Babb in Daily Dose, Featured, Market Studies, News Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. The Best Markets For Residential Property Investors 2 days ago Previous: Recognizing the Top Women of Law Next: Biden to Release Billions in Puerto Rico Disaster Relief While rural areas of the United States have maintained the same approximate population (54 million in 1960 and 57 million in 2020), urban areas have gained nearly 150 million inhabitants in the last six decades, according to a study by The Zebra, a home insurance comparison site. Analysts for The Zebra dove deep into today’s most pressing housing matters to understand how they compare to the same issues some 60 years ago.”We wanted to dig deeper into the ways that housing has affected the lives of Americans both historically and in the present,” The Zebra’s researchers said. “Using U.S. Census Bureau data, we explored how housing has changed for Americans since 1960.”And here are some of the main things The Zebra’s analysts discovered:An increasingly unaffordable dream of homeownership — 3 million homeowners will have delinquent mortgages in 2021; 5% of homeowners are in serious danger of losing their homes; communities of color are disproportionately affected by issues of housing security, with Black and Latinx individuals making up 80% of those facing eviction.One common measure of housing affordability is the relationship between the median cost of a home and the median income (price-to-income ratio). The Zebra used Census intel to calculate the price-to-income ratio for Americans in 1960 as well as 2019 and found that in 1960, the median home cost $11,900, while the median income was $5,600, indicating a price-to-income ratio of 2.1. By contrast, in 2019 the median home cost $240,500 with an estimated median income of $68,703, a price-to-income ratio of 3.5.Housing costs have far exceeded growth in wages — the median house of 1960 would cost just $104,619 in 2020 dollars, far below the actual cost of $240,500, meaning housing costs have increased by 229%. Median household income has only grown by 140% in that same time period, from $49,232 (2020 dollars) in 1960 to $68,703 today.Black Americans face an even greater challenge when it comes to housing affordability, as Black families earn an average of $29,000 less annually than white families, which would represent a price-to-income ratio of 6.1. The Zebra 2021-02-02 Christina Hughes Babb Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post Demand Propels Home Prices Upward 1 day ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 1 day ago February 2, 2021 1,222 Views Tagged with: The Zebra The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Subscribelast_img read more

Two men charged with murder of unarmed Ahmaud Arbery in Georgia

first_imgCourtesy of the Arbery FamilyBy MORGAN WINSOR, ABC News(ATLANTA) — Two men have been arrested and charged with murder and aggravated assault for the February shooting of 25-year-old Ahmaud Arbery, according to the Georgia Bureau of Investigation.Gregory McMichael, 64, and his son, Travis McMichael, 34, were arrested on Thursday and will be booked into the Glynn County Jail.Cellphone video showing the moment has prompted national outrage since surfacing online this week, but his mother said she can’t bring herself to watch it.“I don’t think I’ll ever be in a mental state where I can actually watch the video. I had others that watched it that shared what they saw and that just was enough,” Wanda Cooper-Jones told ABC News in an interview that aired Thursday on “Good Morning America.”In the 28-second video, Arbery, who is black, can be seen jogging around a neighborhood just outside the port city of Brunswick on a sunny afternoon in late February. The footage ends with two loud gunshots.Gregory McMichael and Travis McMichael, who are both white, told police they grabbed their guns and hopped in their truck to pursue Arbery after seeing him running in their neighborhood, because they believed he was responsible for several recent burglaries. The father claimed his son got out of the truck holding a shotgun and was attacked by Arbery, according to a police report obtained by ABC News.The two men tussled over the firearm before Arbery was shot, as seen in the cellphone video, which was allegedly taken by a bystander.Arbery, who lived in Brunswick, one town over from where the McMichaels reside, was pronounced dead at the scene by the Glynn County coroner. No weapons were found on him, according to the police report.Nearly three months after the killing, no arrests have been made and no charges have been filed in the case.“I’m managing, it’s really hard,” Arbery’s mother told ABC News Thursday. “It’s really been hard.”Cooper-Jones said she believes authorities haven’t made any arrests because Gregory McMichael had a lengthy career as an investigator in the Brunswick district attorney’s office before recently retiring.“I think that they don’t feel like he was wrong because he was one of them,” she said.After the video circulated on social media Tuesday, a large crowd of protesters marched through the neighborhood where Arbery was killed. The Georgia Bureau of Investigations announced Wednesday that it was opening its own probe into the Feb. 23 incident.S. Lee Merritt, one of the attorneys representing Arbery’s family, said they are demanding answers and calling for the immediate arrests of Gregory and Travis McMichael.“Prosecutors will need a grand jury in order to formally indict these men, but that has nothing to do with actually going out and arresting the men seen on camera murdering a 25-year-old unarmed black man,” Merritt told ABC News in an interview that aired Thursday on “GMA.”“The prosecutors actually have the option, if they so chose to, to directly indictment and skip the entire grand jury process,” he added. “It’s something that happens all the time in our legal system, and this would certainly be an appropriate moment.”The McMichaels’ attorney did not immediately respond to ABC News’ request for comment Wednesday, and the McMichaels themselves did not return phone calls.Arbery would have turned 26 years old on Friday. Cooper-Jones described her late son as humble, kind, well-mannered and beloved by his family and peers.“Ahmaud didn’t deserve to go the way that he went,” she said.Copyright © 2020, ABC Audio. All rights reserved.last_img read more

United Biscuits appoints new non-exec chairman

first_imgUnited Biscuits (UB) has appointed Frank Meysman as non-executive chairman of the group as of today (21 October 2014). Meysman will succeed David Fish who is retiring. Meysman is currently non-executive chairman of FTSE-250 listed Thomas Cook and the Belgian company Betafence NV, owned by CVC Capital Partners and De Gilde. He has more than 25 years’ experience of working with major global consumer goods businesses. He spent the last six years on the board at Sara Lee.Martin Glenn, chief executive of UB, said: “I am delighted to welcome Frank to the business. Given we are considering the next stage of our future, someone with Frank’s experience, who understands both packaged goods and operating in a public market environment, will bring invaluable experience to support the group.“I would also like to thank David Fish, who is retiring as chairman, for his great contribution to the business for more than a decade and wish him all the very best for the future.”Meysman added: “United Biscuits is a fantastic business, with great heritage and iconic brands, and strong foundations for further growth. This is a very exciting opportunity and I am looking forward to working with my new colleagues as we deliver the next phase of the group’s global growth potential.“This new position is complementary to my continued commitment as chair of Thomas Cook, whose transformation continues to deliver results.”last_img read more

Reischauer Institute funds student research, travel in Japan

first_imgFounded in 1973, the Edwin O. Reischauer Institute of Japanese Studies (RI) promotes research on Japan and brings together Harvard faculty, students, scholars from other institutions, and visitors to create one of the world’s leading communities for the study of Japan.For graduate students with a Japan interest, RI has provided dissertation completion grants, language study grants, and other travel and research awards. In the case of undergrads, RI has provided support for research, Japanese language study, internships, Harvard Summer Program in Kyoto, volunteer relief efforts in the aftermath of the 2011 Great East Japan Earthquake, and other activities across Japan. RI seeks to enable students to go to Japan to study, to work, to learn, and to grow as scholars and as human beings. View the full list of students supported by RI during the 2012-13 academic year and summer of 2013.last_img read more

FIFA worker stood down over allegations

first_imgA member of FIFA’s financial monitoring panel has been stood down from duty while implicated in financial corruption.Canover Watson was questioned last month by police anti-corruption and financial crime units in his native Cayman Islands. He denies wrongdoing.FIFA said on Tuesday that audit committee chairman Domenico Scala “decided to temporarily relieve until further notice Canover Watson, to whom the presumption of innocence applies.”The eight-member panel is next scheduled to meet on December 16 in Morocco, on the sidelines of the Club World Cup.It was formed in 2012, and scrutinises FIFA’s US$1 billion-plus annual revenue and commercial contracts. Scala’s team has intervened to block some of FIFA’s 209 member federations applying for development grants.Watson is a director of the Cayman Islands Stock Exchange and treasurer of the islands’ football federation. He is a close associate of federation leader Jeffrey Webb, a FIFA vice president and president of CONCACAF. FIFA said the police investigation was not linked to Watson’s work in football.”After a preliminary clarification of the facts of the case and the allegations of the Cayman Island investigating authorities against Canover Watson, no connection with football and/or his role at association level has been established at this stage,” football’s governing body said in a statement.Local media reported the case involves a 2010 contract to supply public hospitals with swipe-card billing technology.last_img read more