How College Grads Drive Up Urban Rents

The Atlantic’s “CityLab” highlighted a working paper by Richard Green, of the USC Lusk Center, and colleagues on how the rise of more educated people with higher incomes in metropolitan areas has increased housing costs. Increased housing costs predominantly affect the less educated. Although Green found that a higher number of college graduates in an area raises incomes for everyone, a 1 percent increase in college grads leads to a roughly 2.5 percent increase in the cost of rent.

Wells Fargo commits $60 billion to increase African American homeownership

Wells Fargo announced a $60 billion lending commitment to create at least 250,000 African American homeowners by 2027, directly addressing the lower homeownership rates in the African American community. While Wells Fargo’s lending commitment is spread out over ten years, according to a recent interview with Raphael Bostic, a professor at the Sol Price School of Public Policy at the…

Wall Street Journal features Acolin’s research on falling homeownership

Wall Street Journal highlighted research by USC Price Ph.D. student Arthur Acolin on the declining rate of homeownership in America. Acolin and colleagues predict the rate could dip to 58 percent or lower by 2050. This may in turn affect future spending when younger households lack home equity to pay for other milestone purchases.

The Evolution of FHA Mortgage Rates

via Dailyfinance “The Evolution of FHA Mortgage Rates” features our Director, Raphael Bostic by Michele Lerner, The Motley Fool Mar 24th 2014 12:43PM Updated Mar 24th 2014 1:15PM Since its creation in 1934, the Federal Housing Administration’s mission has been to provide access to mortgage loans for lower income, first-time buyers and minorities to encourage…