What Rising Rents and Technological Advancements Mean for Family Financial Security

NABJ panel to discuss housing, employment, and poverty in communities of color

What Rising Rents and Technological Advancements Mean for Family Financial Security
Event

For many families, especially those of color, moving up the economic ladder and achieving the American Dream seems more elusive than ever. In fact, less than a quarter of people across the country believe that it’s possible to start off poor and become rich. And 92 percent say they prefer financial stability to upward economic mobility, our data show.

As daily expenses increase and income remains flat, the inability to save money threatens families’ financial security in the short term and economic mobility in the long term. And while all households are affected, these forces have complicated efforts to bridge the racial wealth gap in this country. For example, the typical white family has 31 days’ worth of liquid savings compared with just five days’ worth for an African-American family.

So how do today’s workers move out of poverty? Do traditional allies, such as community organizations and government agencies, have a new role to play, and how might technology help or harm efforts to improve family financial security and economic opportunity?

A Pew Charitable Trusts panel at the National Association of Black Journalists (NABJ) convention featured experts who discussed the research that is still needed and technological innovations that may offer solutions, and shared some stories they’ve uncovered along the way.

Expert Panel

Thursday, Aug. 2, 2018, 2:45 - 4:15PM, Nicolet A Room, Detroit Marriott, Detroit MI

Karen Kavanaugh, project director, The Pew Charitable Trusts

Trooper Sanders, fellow, The Rockefeller Foundation

Sarida Scott, executive director, Community Development Advocates of Detroit

Ron Stodghill, associate professor, University of Missouri

Gillian B. White, senior editor, The Atlantic

Moderator: Teresa Wiltz, senior staff writer, Stateline (@teresawiltz)

Family
Family
Report

American Families Face a Growing Rent Burden

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Report

Nearly 43 million U.S. households rented their homes in 2016, including about 9 million households that were formed over the preceding decade, according to the Harvard Joint Center for Housing Studies. Demand for rental properties has increased across age and socio-economic groups since 2008. Recent research indicates that although some of those increases can be explained by population shifts, a significant portion is the result of declines in homeownership since the Great Recession.

Coins
Coins
Data Visualization

Portrait of Financial Security

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Data Visualization

This interactive highlights the financial balance sheets of 17 family types and illustrates how household demographics, such as education, race, and family structure, relate to financial security. Users can explore three areas of the balance sheet—income, wealth, and liquid savings—to better understand how families are doing financially and how they perceive their financial well-being. The interactive is based on data from Pew’s nationally representative Survey of American Family Finances. Select a profile to get started.

EVENT DETAILS
Date: Thursday, August 2, 2018
Time: 2:45 p.m. - 4:15 p.m. EDT
Location: Nicolet A Room,
Detroit Marriott,
Detroit, MI
after the fact
After the Fact
Podcast

After the Fact: A Podcast from The Pew Charitable Trusts

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Podcast

Welcome to “After the Fact,” a new podcast from The Pew Charitable Trusts that brings you data and analysis on the issues that matter to you. Experts from Pew and other special guests discuss the numbers and trends shaping some of society’s biggest challenges, then go beyond the facts with nonpartisan analysis and action.