Posts by Algernon Austin

Latino homeowners’ median net worth increased from 2013 to 2016, but the net worth of Latino renters* declined 22 percent. The median net worth of Latino renters fell from $5,200 to $4,000 (Figure A...
October 20, 2017 | Algernon Austin
While income inequality in the United States is at historically high levels, wealth inequality is even more severe. Wealth—assets minus debts—is increasingly recognized as the most important measure...
October 11, 2017 | Algernon Austin
Newly released data from the Federal Reserve’s Survey of Consumer Finances reveal that the downward slide in wealth for African Americans in the 21st century is finally over. The ...
September 29, 2017 | Algernon Austin
“At this point, the whole race thing is over . . . it doesn’t matter anymore. We’ve transcended it. Now we have a black president, so clearly we are not racist,” stated one young woman after the...
September 21, 2017 | Algernon Austin
As we see the devastation of Harvey and observe the anniversary of Katrina, it is important that we recognize that climate change increases the frequency of extreme weather events like “superstorm”...
August 30, 2017 | Algernon Austin
Recently, Jared Bernstein, the former chief economist to Vice President Joe Biden, and Michelle Singletary, a personal finance columnist for the Washington Post, had a little debate about debt in the...
July 13, 2017 | Algernon Austin
Recently, the economist Richard V. Reeves exhorted America’s rich to stop pretending that they are not rich. He made several important points in that essay, but he missed or downplayed the...
June 29, 2017 | Algernon Austin
America will be greater when everyone who wants to work can find a job. Unfortunately, the Federal Reserve and our policymakers don’t seem to think so. They have not done all that they can to put...
June 21, 2017 | Algernon Austin