scholarly journals Disparities in Wealth Accumulation and Loss from the Great Recession and Beyond

2014 ◽  
Vol 104 (5) ◽  
pp. 240-244 ◽  
Author(s):  
Signe-Mary McKernan ◽  
Caroline Ratcliffe ◽  
Eugene Steuerle ◽  
Sisi Zhang
Keyword(s):  
Housing Market ◽  
Great Recession ◽  
Wealth Accumulation ◽  
Survey Of Consumer Finances ◽  
The Great Recession ◽  
Consumer Finances ◽  
Family Wealth ◽  
Synthetic Cohort ◽  
Pseudo Panel ◽  
The Impact

Using over two decades of Survey of Consumer Finances data and a pseudo-panel technique, we measure the impact of the Great Recession on US family wealth relative to the counterfactual of what wealth would have been given wealth accumulation trajectories. Our synthetic cohort-level models find that the Great Recession reduced average family wealth by 28.5 percent-nearly double the magnitude of previous pre-post mean descriptive estimates and double the magnitude of any previous recession since the 1980s. The housing market was only part of the story; all major wealth components fell as a result of the Great Recession.

Understanding the Unequal Post-Great Recession Wealth Recovery for American Families

2017 ◽  
Vol 17 (4) ◽  
Author(s):  
Sisi Zhang ◽  
Shuaizhang Feng
Keyword(s):  
Great Recession ◽  
Wealth Distribution ◽  
Wealth Accumulation ◽  
Survey Of Consumer Finances ◽  
The Great Recession ◽  
Consumer Finances ◽  
Level Data ◽  
Family Level ◽  
The Mean ◽  
Race Ethnicity

AbstractThe wealth of US families had not returned to its prerecession level by 2013, six years after the onset of the Great Recession. This article provides a comprehensive analysis of this slow and uneven episode of wealth recovery, using family-level data from the Survey of Consumer Finances 1989–2013. Both descriptive results and regressions controlling for life cycle wealth accumulation show that families of color and less-educated families are falling behind in wealth recovery because their wealth portfolios are concentrated in housing, which has recovered very slowly. The decomposition results suggest that homeownership plays a significant role in explaining wealth disparity by race, ethnicity, and education at the mean and bottom of the wealth distribution. Understanding the uneven wealth recovery has important implications for redesigning asset-related policies and narrowing wealth gaps.

scholarly journals Wealth, Health, and Disability Gaps at Midlife: Implications for Disparate Retirement Outcome

2020 ◽  
Vol 4 (Supplement_1) ◽  
pp. 586-586
Author(s):  
Stephen Crystal
Keyword(s):  
Health Inequality ◽  
Generation X ◽  
Late Life ◽  
Wealth Accumulation ◽  
Survey Of Consumer Finances ◽  
Policy Choices ◽  
Consumer Finances ◽  
Increasing Risk ◽  
Deaths Of Despair ◽  
The Impact

Abstract Late-life economic outcomes in coming years will be strongly shaped by the impact of economic and health experience for cohorts now at midlife. These cohorts have experienced lagging and increasingly disparate wealth accumulation, along with challenges to health and earning potential that augur highly disparate retirement futures. For example, analyses of Survey of Consumer Finances data indicate that in 2016, members of Generation X had mean assets that were only 39% those of the boomers in that year. Increasing risk of “deaths of despair” among individuals in midlife have been accompanied by increases in disability that threaten the ability of those members of these cohorts who are not in the educationally advantaged minority to achieve secure retirement futures, particularly in the context of increasing employment precarity. This presentation will review recent findings on midlife wealth and health inequality, implications for retirement futures, and policy choices facing a new Presidential administration.

scholarly journals Exploration of the Windfall and Market Entrepreneurship During the Great Recession

2019 ◽  
Vol 10 (6) ◽  
pp. 15
Author(s):  
Amaechi N. Nwaokoro ◽  
Lee Washington ◽  
Autumn Griffin
Keyword(s):  
Housing Market ◽  
Great Recession ◽  
Opportunity Cost ◽  
Exploratory Study ◽  
Market Conditions ◽  
Economic Opportunities ◽  
The Great Recession ◽  
Economic Markets ◽  
The Impact

Market innovative entrepreneurs have the desire of exploring declining economic markets to seek for windfall. They seek to profit heavily from adverse market conditions. The Great Recession may have presented some economic disasters, rage, and hardship to many people in the housing market in the 2000s but to the innovative market entrepreneurs, it presented some economic opportunities for experiencing a market windfall. Mostly, the objective of this exploratory study is to highlight the impact of the opportunistic events created by the housing foreclosure fillings, completed foreclosures, and home repossessions on the indexed price of housing that harbors the related opportunity cost. The increased indexed price of the housing driven by the fluctuation of both the quantity demanded and produced of housing seems to have led to the entrepreneurial windfall profit during the recession.

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