The latest Federal Reserve study revealed a concerning trend among American households, particularly those outside the wealthiest 20%, according to a Bloomberg report. Since the onset of the COVID-19 pandemic, they have depleted their extra savings and have less liquid assets than they had before the pandemic began. If this is you, consider speaking to a financial advisor. As of June, the bottom 80% of households by income, when adjusted for inflation, had lower bank deposits and other liquid as
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includes utility bills, mortgage, rent and broadband even. all of that is a massive increase on the month before. 400,000 extra households. that s because prices are going up everywhere across bills, cross food, cross housing, and something is breaking. cross housing, and something is breakinu. , cross housing, and something is breakinu. , breaking. and people possibly stretched a breaking. and people possibly stretched a bit breaking. and people possibly stretched a bit more - breaking. and people possibly stretched a bit more over - breaking. and people possibly stretched a bit more over the | stretched a bit more over the christmas period as well which has that knock on effect injanuary. absolutely. we see that increase a little bit every year but this year it is huge and it is coupled with people having to make cutbacks on essentials spending they were not otherwise having to do. essentials spending they were not otherwise having to do. you ve also been looking otherwis
this generation. thank you very much for being here today, professor. i want to get into this conversation about generational wealth. because we know that the path to that generational wealth, which gives families out of poverty, keeps them, out through homeownership. but the pathway is just really full of obstacles for black americans. i wanna put this up on the screen for the black families are 41% less likely to be approved for mortgages than white americans. there s also something called appraisal bias. can you explain to folks that they re watching what appraisal bias is and how all of this impacts our community. i mean, appraisal bias it s pretty simple and it s definition. all things equal, appraisers downgrade the value of black homes compared to white homes. i mean, it s something that is structural. it s been occurring for quite a long period of time. and it occurs across income groups. even high income blacks,