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After the COVID-19 pandemic, some baby boomers whose children have moved away have found it prohibitively expensive to move into smaller homes, a paradox caused by the higher prices of newer homes, tax benefits given to long-time owners, higher interest rates, and low supply of appropriately-sized housing caused by restrictive zoning that ...
In 2023, 56.2% of Black or African American households spent more than 30% of their income on housing costs, compared to 49.7% of the total population. Among Hispanic households, 53.2% were cost ...
Total net social spending in terms of percent of GDP, takes into account public and private social expenditure, and also includes the effect of direct taxes (income tax and social security contributions), indirect taxation of consumption on cash benefits, as well as tax breaks for social purposes. [1]
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Due to the COVID-19 pandemic, Congress and President Trump enacted the $2.2 trillion Coronavirus Aid, Relief, and Economic Security Act (CARES) on March 18, 2020. The Congressional Budget Office estimated that the budget deficit for fiscal year 2020 would increase to $3.3 trillion or 16% GDP, more than triple that of 2019 and the largest ...
In January, the monthly payment on a median-priced home was $1,443 after putting 10% down. Now it’s $2,285.
The U.S. Census Bureau found that if housing costs were taken out, inflation at the end of 2023 would have been 1.8% instead of 3.2%. [51] Reuters noted how shelter costs or 'shelter inflation' surged during the pandemic. [52] Artificial scarcity in the supply of housing, due to NIMBYism, has been a significant factor in making housing more ...
He learned about the area’s modest housing costs and Choose Topeka, a program that offers up to $15,000 to remote workers who move to town and buy a house. (At the time Jaggers moved, the ...