Household financial stability - Data/Research
This issue of the Community Pulse presents the findings from our 2017 survey. Amount of/and or access to affordable housing, skill level of local labor force and general poverty were the top three current issues in the fifth district.
Since the Great Recession, homeownership rates have dropped and the wealth divide has widened for low-income and racial and ethnic minority households. Homeownership is a significant contributor to household balance sheets and generator of household wealth, particularly for these populations. A contract for deed is a seller-financed real estate contract consisting of installment payments. For households that desire the financial and physical security of owning a home, contracts for deed may provide an inexpensive option. However, risks may exist. This discussion paper explores informal homeownership issues by tracking contract for deed sales in the Southeast.
In the July 2017 edition of Housing Market Perspectives, St. Louis Fed economist Bill Emmons considers homeowner's equity, or HOE, as the single largest component of wealth for black and Latino families, accounting for nearly half of those families' wealth as opposed to roughly a third for Asian and other families and about a quarter for white families.
In this fourth issue of the Quarterly Debt Monitor, covering the fourth quarter of 2016, the St. Louis Fed explores decreasing auto debt growth alongside a rise in subprime delinquencies on car loans. Over the past few years, strong lending of auto and student debt has buoyed total debt, accounting for the majority of credit expansion. This report offers a closer look at auto lending, including the factors that contributed to the expansion in this sector.
In 2016, the Federal Reserve Bank of San Francisco held a series of roundtable discussions across the Western states to examine drivers of the recent rise in involuntary part-time employment and the impact it has on lower-income households. This paper summarizes existing research on the topic of underemployment, discusses themes that surfaced during the locally focused meetings, and proposes ways to address the underlying causes through solutions that build on the interrelated nature of housing, jobs, transportation, and child care.
Unequal growth at the ends of the income distribution has received much attention in recent years, but what income trend has the middle quintile experienced since the Great Recession? The March 2017 issue of 5th District Footprint examines this change in real mean income.
In this third issue of the Quarterly Debt Monitor, which focuses on the third quarter of 2016, the St. Louis Fed finds consumer debt growth stalling in the four largest metropolitan statistical areas (MSAs) in the St. Louis Fed's District (St. Louis, Little Rock, Ark., Louisville, Ky, and Memphis, Tenn.) and across the United States. Additionally, a special section is included in the issue that focuses on consumer debt trends in some of the smaller MSAs in the District, including Evansville, Ind.-Ky.; Fayettevillle-Springdale-Rogers, Ark.-Mo.; Jackson, Tenn.; and Springfield, Mo.
In this second issue of the Quarterly Debt Monitor, covering the second quarter of 2016, the St. Louis Fed gives a detailed report on consumer debt nationally compared with the four largest metropolitan statistical areas (MSAs) in the St. Louis Fed's District (St. Louis, Little Rock, Ark., Louisville, Ky., and Memphis, Tenn.) and finds consumer debt grew across the United States, as well as all of the MSAs in the Eighth Federal Reserve District.
In this inaugural edition covering the first quarter of 2016, the St. Louis Fed reports on consumer debt nationally compared with the four largest metropolitan statistical areas (MSAs) in the Eighth Federal Reserve District. These quarterly reports will examine changes in total consumer debt and in specific types of liabilities: mortgages, home equity lines of credit (HELOC), automobile and student loans, and credit card balances.
While the preventive effect of loan modifications on mortgage default has been well-documented, evidence on the broad consequences of modifications has been fairly limited. Based on two unique loan-level data sets with borrower credit profiles, the study Borrower Credit Access and Credit Performance After Loan Modifications reports novel empirical evidence on how homeowners manage their credit before and after receiving modifications.