Child Care, COVID-19, and our Economic Future
Child care is important for cultivating the future workforce, and it also ensures that working parents of today can participate in the economy, helping to achieve the Federal Reserve’s mandate for full employment. While child care in the U.S. is a piece of critical infrastructure, it is often invisible and undervalued. Straddling the lines between parenting, education, and small business, child care does not get the full attention and resources of any particular domain, and its contribution to the economy has been overlooked.Longstanding and widespread constraints in the child care sector ...
On the Sidelines of the Hot Economy
While the current economy is often characterized as ?hot,? marked by low unemployment, stable prices, and sustained economic growth, many residents are not enjoying the prosperity reflected in the aggregate measures of economic well-being. This report focuses on those who have not reaped the benefits of recent sustained growth in the economy. The report highlights groups who have faced barriers to economic participation and documents interrelated rising costs?particularly for housing, transportation, and childcare?that contribute to keeping people on the sidelines of the economy.
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.
Holding Space: Underlying Real Estate Conditions for Nonprofits in the Los Angeles Region
Over the past decade, rising real estate costs have led to displacement of low-income residents and small businesses from Los Angeles’ changing neighborhoods. This trend raises questions about the long-term ability of nonprofit organizations that operate in these neighborhoods to remain in place. The recent economic downturn related to the COVID-19 pandemic makes understanding the baseline conditions that nonprofits face in the real estate market even more critical.Previous research suggests that some San Francisco Bay Area nonprofits, particularly those that rent operating space, have ...
EITC in the 12th District
Within the Federal Reserve's 12th District, over 4 million families and individuals received the Earned Income Tax Credit (EITC) for tax year 2007, totaling over $8 billion in credits. In this Research Brief, we examine trends in EITC usage across the 12th District, and look at how the EITC and tax time provide a unique opportunity to link lower-income households to financial services and other asset building.
What are Banks Doing to Address the Impacts of COVID-19 on LMI Communities? Early Approaches to Addressing the Crisis
Lessons from history show that those who are most disadvantaged before a disaster are likely to be most vulnerable during a disaster as well as on the road to recovery. As the novel coronavirus continues to spread, we are witnessing heavy impacts on low- and moderate-income communities as small businesses shutter, workers are laid off, and more and more households find themselves in unexpected financial circumstances. Low-income individuals and households are more vulnerable to illness and potential economic disruption for a variety of reasons, including lower availability of paid sick leave ...
Funds for Kickstarting Affordable Housing Preservation and Production: Lessons for New Investors
A shortage of affordable homes for workers and families at all income levels across the country calls for innovative solutions. Over the past decade, a variety of public-private loan funds have developed to kick-start construction and preservation of affordable housing. This report breaks down how these funds fit into the process of developing and preserving affordable housing and shares lessons for those who are considering starting or investing in a fund.
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 ...
School quality and affordable housing in the Bay Area
Everyone knows the old real estate adage that the three most important factors in determining the value of a given property are location, location, and location. This is to say that place matters; a neighborhood confers a bundle of amenities to its residents that are specific to that geography. This bundle can include proximity to parks, small-scale retail offerings, high quality schools, and a variety of transportation options, as well as low crime rates and clean air. These amenities are arranged in a variety of configurations across space, and most households determine which aspects are ...
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 ...