NEW: Atlanta Mayor Andre Dickens has brokered a deal that’s expected to end years of costly legal drama between Atlanta Housing and developer Integral Group. The proposed resolution could spur the development of hundreds of affordable housing units, at a time when the city is more populous and expensive than ever. The deal was announced […]
Tag: Federal Reserve
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Spelman College grad a contender for seat on Federal Reserve’s board
Spelman College graduate Lisa Cook may be the first Black woman to serve on the governing body of the nation’s central bank.
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How wealth is extracted from lower income folks, other quirks of ‘new’ economy
Renters take a double whammy – they don’t build home equity, and their on-time rent payments don’t get reported to credit agencies to help build their credit score.
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The twin jobs economy: Some can’t find work amid national labor shortage
Atlanta Fed President Raphael Bostic talked about the long-term and older-worker unemployment situation the day before the Federal Reserve on Wednesday released another report citing a labor shortage in the Southeast and nationwide.
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‘Racism and the Economy:’ Past may hold ideas for equitable policies for future
President Nixon’s playbook to promote Black business formation may be as good a place as any to begin today’s effort to devise policies to address racism in American capitalism, according to the keynote speaker in a series convened by Atlanta Fed President Raphael Bostic.
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Atlanta one of five regions chosen to host program to help workers find good jobs
A new program in metro Atlanta aims to help folks without college-grad backgrounds get good jobs. The the effort is part of a national partnership of more than 30 entities that includes the Atlanta Fed, Goodwill of North Georgia, Rework America Alliance, IBM, Google, the National Urban League and the AFL-CIO.
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$12 billion in loans soon to be available in disadvantaged areas hit by COVID-19
Some consumers and businesses in minority and low-income communities will soon be able to borrow money that previously wasn’t available to lenders to provide to borrowers.
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Housing prices: No dips in sight as demand, lumber, labor costs push prices higher
The prospect of falling home prices – affordable units or market-based – shows no signs of appearing at the start of 2021. Demand for dwellings exceeds supply, and prices for lumber and labor remain above expectations.
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Mortgage debt rising among older homeowners; metro Atlanta faces decisions
Mortgage debt continues to rise among the nation’s homeowners age 65-plus. More than a quarter of the 80-plus crowd now has mortgage debt, according to findings by the Federal Reserve and Harvard University.
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Lumber price hikes fuel rising housing costs in ATL, nationwide: Fed, trade group
With lumber prices nearly tripling since April, the nationwide rise in home prices was expected in the Beige Book report of economic conditions released Wednesday by the Federal Reserve.
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New bank for Black, Latinx consumers starts as Fed seeks to equalize credit access
The new bank announced Thursday by Andrew Young, Killer Mike and Ryan Glover illustrates the purpose behind the nation’s first sweeping update in 25 years of rules that govern banking in minority communities – a review that aims to address inequities in access to credit.
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Apartment prices rise as much as 25 percent, as talks continue on housing affordability
Apartment rental prices have spiked by 25 percent in the past year in a neighborhood near Lenox Square and by 16 percent in and near Atlantic Station, according to a new report by rent.com. These figures provide context for this summer’s continuing conversation about affordable housing.
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Atlanta Fed District voices concerns over economy, other districts sound same note
The real-time snapshot of the Southeast regional economy released Wednesday by the Federal Reserve cites concerns over politics and trade. This notion of unease tracks comments in a speech the Fed’s vice chairman delivered last week, when he observed that patience is the watchword at the start of 2019.
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Report puts Atlanta’s affordability crisis into context
Atlanta’s affordability crisis may feel extreme to some, but how does it compare to other cities in the Southeast?
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Fed’s Beige Book notes shift in employers’ choices for filling vacant jobs
Jobs remain hard to fill in metro Atlanta and across the Southeast, though business leaders continue to resist raising wages to attract employees, according to the latest federal report on the economy.
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Metro Atlanta housing futures dinged in two new federal reports
Two federal reports released Wednesday dashed chilled water on the housing market in metro Atlanta and across the Southeast. One report predicted a continuing status quo of modest growth, and another forecast a weakening market due to the new federal tax law.
