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Report
The fragility of finances. SF Fed Community Development's Laura Choi talks with President John Williams about creative placemaking, a neighborhood revitalization strategy that engages local artists and performers
In the 2015 annual report, What We've Learned...and why it matters, we discuss creative placemaking, a new concept that refers to the enhanced role art plays in our communities. We've learned that creating culturally relevant spaces, ones that are vibrant and attractive, increases a community?s economic potential. Creative placemaking taps into local artists and communities, ensuring culturally significant voices are represented and reflected.
Report
The fragility of finances. SF Fed Community Development's David Erickson and Laura Choi sit down with President John Williams to discuss the fragility of American household finances and how to get more families on the road to economic opportunity
Most American households do not have enough savings to pay an unexpected $400 expense, according to a recent Federal Reserve survey. It?s one of the findings we discuss in the new book What It's Worth and one of three distinct stories told by our Community Development team in the 2015 annual report, What We've Learned...and why it matters. Financial insecurity and income volatility affect every facet of life including health, housing, employment, and education. Helping more families get on the road to economic opportunity requires holistic solutions.
Journal Article
Household net worth and asset ownership among the economically vulnerable
Households whose balance sheets were dominated by housing, particularly those in depressed markets and those exposed to high-cost predatory mortgages, were deeply exposed to the downside risk that became reality during the Great Recession. These households tended to be lower-income, minority, and have lower educational attainment, meaning they were already struggling with low net worth prior to the recession. This Research Brief examines household net worth and asset ownership in 2005 and 2011 across different demographic groups, using data from the U.S. Census Bureau?s Survey of Income and ...
Journal Article
Testing Our Hypotheses on Equitable Development: Midcourse Learning and Adapting Through SPARCC
The Strong, Prosperous, And Resilient Communities Challenge (SPARCC) supports collaborative leadership to advance changes in policy, practice, and investment that promote equitable regional development. SPARCC does this by investing in six regions across the country: Atlanta, Chicago, Denver, Los Angeles, Memphis, and the San Francisco Bay Area. Within each site, leaders from across sectors come together at the same metaphorical table to align their vision and implement strategies for effecting regional change. SPARCC provides each site with combined grant and technical assistance funds over ...
Journal Article
Housing market recovery in the 12th district: implications for low- and moderate-income communities
Following the aftermath of the Great Recession, national indicators are starting to show signs of improvement in the housing market. However, such indicators mask the realities of what?s happening on the ground in low- and moderate-income (LMI) communities that were disproportionately affected by the housing crisis. Complicating matters is the unprecedented role of investors in the housing recovery and the changing nature of local housing markets. There are pressing concerns around the potential impact of investor ownership on communities, tightening rental markets, and the ongoing challenges ...
Journal Article
The rise of single family rentals in Arizona, California, and Nevada
The worst of the housing crisis may be behind us, but the recent housing market recovery opens up a number of new community development questions. Of particular concern is the potential impact of investor purchases of single-family residences, especially in hard-hit neighborhoods that experienced severe price depreciation and offered an abundant supply of distressed property. This Research Brief examines trends in rental housing composition in Arizona, California and Nevada and takes a closer look at local areas that have seen the fastest growth in single-family rentals. These three states ...
Journal Article
Student debt and default in the 12th District
Postsecondary educational expenses and student loan balances have been trending steadily upward, but persistent unemployment and weak economic conditions have created an alarming new trend of rising student loan defaults. This Brief examines broad trends in student borrowing in the Federal Reserve's 12th District, with an emphasis on students from low- and moderate-income households. The rise of student borrowing has important community development implications as it directly impacts the present and future financial well-being of LMI individuals.
Journal Article
The Mental Health Implications of COVID-19 on Low-Income Communities and Communities of Color
Shelter-in-place and social distancing measures have been critical for “flattening the curve” and managing the spread of COVID-19, but the sudden shock to our economic and social lives is raising concerns about the need to “flatten the second curve” of mental and behavioral health issues. A new report in JAMA Internal Medicine warns, “In the context of the COVID-19 pandemic, it appears likely that there will be substantial increases in anxiety and depression, substance use, loneliness, and domestic violence; and with schools closed, there is a very real possibility of an epidemic of ...
Journal Article
Impacts of COVID-19 on Nonprofits in the Western United States
Nonprofit organizations play an important role in the response to COVID-19, but the crisis is straining their ability to serve communities. This report summarizes data from a Federal Reserve survey to assess the impact of the pandemic on nonprofit respondents and the communities they serve in the Western United States.
Journal Article
The Supplemental Poverty Measure
The Census Bureau recently released findings on the Supplemental Poverty Measure, an alternative approach for estimating the prevalence of poverty in the United States.