College degrees, while costly, provide labor market benefits, say Cleveland Fed researchers
While it has become more costly to attend college over the past 30 years, the extra education typically awards a benefit in the labor market, say Federal Reserve Bank of Cleveland researchers Daniel Carroll and Amy Higgins.
Cleveland Fed researchers examine trends in neighborhood gentrification during and after the housing boom
During the housing boom, a number of large cities in the United States experienced redevelopment in their lower-income neighborhoods as higher-income residents moved in, a process known as gentrification.
Treasury’s CDFI Fund increases lending in low-income areas, says Cleveland Fed researcher
The Treasury Department’s CDFI Fund awards grants to community development financial institutions (CDFIs) that operate in impoverished areas.
Consumer credit still weak outside of select sectors and for certain borrowers
Auto and student loans have been strong throughout the recovery, and mortgage lending is beginning to turn the corner. But using data adjusted for inflation, consumer credit appears weaker, say Cleveland Fed researchers O. Emre Ergungor and Daniel Kolliner.
Many parents believe their children must get a college degree—especially if they want to have at least as comfortable a lifestyle as their parents had; yet the price of a college degree has been rising rapidly over the past three decades. As costs have risen, more and more students and their families have turned to education loans for financing. This trend, combined with the strong propensity for households to form among individuals of similar education levels, has led to much larger student loan debt burdens for households headed by young adults who have attended college.
Neighborhood Gentrification during the Boom and After
During the housing boom, a number of large cities in the United States experienced redevelopment in their lower-income neighborhoods as higher-income residents moved in, a process known as gentrification. Looser lending standards, which were prevalent at the time, may have contributed to the trend. Since lending standards have tightened with the onset of the housing bust and the financial crisis, we wondered whether gentrification has continued after the recession in places where it was happening before.