Economic Report

Fed Report Says Income Inequality is Growing in America

Rich Getting Richer, Poor Remaining Poor in the United States The Federal Reserve’s new Survey on Consumer Finances finds that income inequality is widening between upper- and lower-class Americans, with the rich continuing to amass more wealth and the poor only seeing modest gains—or no gains at all. The report reveals that the income and wealth held by (more…)

Mortgage Applications Drop Again as Americans Find it Expensive to Finance Houses

Mortgage Applications Drop Again as Americans Find it Expensive to Finance Houses

Rising Costs of Financing Cause Decline in Mortgage Applications Mortgage applications have seen another week of decline—this time because Americans are postponing their decision to refinance their mortgages, amid the rising costs of refinancing. Mortgage applications fell 0.5% in the week ending September 22, compared to the week before (on a seasonally adjusted basis), according (more…)

Geographic Economic Inequality Growing in America

Geographic Economic Inequality Growing in America

Zip Codes Are Defining Employment Opportunities for Americans The majority of the United States is economically falling behind as the richer communities benefit from the bulk of the new businesses and better employment opportunities. A new study by the non-profit research organization Economic Innovation Group finds that economic inequality based on geographic location is growing in the country.