Tag: housing market
The historic discrimination that has limited the ability of older Black Americans to accumulate wealth has been present in every aspect of the housing market. They have paid a steep price. By the time they reached their mid-50s, they had $90,000 in home equity – or about $57,000 less than White homeowners – according to…
Abstract This paper uses the Health and Retirement Study to explore how local cost-of-living affects Social Security replacement rates and household behavior. In theory, labor markets with high cost-of-living also offer more compensation. If this compensating differential is paid in wages, rather than benefits, it reduces the share of earnings replaced by Social Security due to t…
