Latest news with #Americanfamilies
Forbes
30-06-2025
- Business
- Forbes
Reimagining Affordable Housing To Unlock Economic Mobility For All
The relentless increase of the cost of owning or renting a home is a heavy burden on millions of households—and an economic problem we must face as a country. The more Americans are forced to spend on housing, including related costs like mortgage interest and insurance, the less money they can contribute other necessities, save for college and retirement, or generally enjoy life. That has ripple effects across the entire economy. There were 8.2 million fewer housing units than needed in 2023 to meet the needs of American families. Without decisive action, that gap could grow to 9.6 million units by 2035. This issue touches rural and urban households, young and old, and is reaching into the middle class. Research from the McKinsey Institute for Economic Mobility underscores how the lack of affordable housing options, particularly in low-poverty neighborhoods and mixed-income developments, limits access to good schools and training programs, health care providers, green spaces, and other amenities. All this makes it more difficult for people to secure higher paying jobs, enjoy the qualities of life, and move up the economic ladder. That spells hardship for families. And when people cannot use their talents to the full, it is also a drag on the broader economy. And while high housing costs impact many segments of the population, the data suggests that it is particularly burdensome for Black Americans. The historic legacies of housing discrimination have been compounded by supply, demand, and geographic imbalances. Nearly 60 percent of Black renters and 30 percent of Black homeowners are moderately or severely cost burdened, meaning they spend at least 30 percent and 50 percent, respectively, of their income on housing – well above national averages. Though not without trade-offs, McKinsey estimates that closing the housing shortfall could help unlock as many as 1.7 million jobs and add nearly $2 trillion to gross domestic product through 2035. These gains would benefit all. Because Black Americans shoulder an outsize share of the housing burden, we would expect them to benefit greatly. How can this be achieved? No single policy is likely to work uniformly across cities, suburbs, and rural areas. But there is no shortage of promising ideas, and there are successful, albeit piecemeal, efforts all over the country. Many encouraging solutions, however, face implementation challenges, not least because so many different players need to work together to resolve this crisis. In the private sector, developers, development corporations, financial institutions, insurers, investors, and manufacturers all play crucial roles in construction and housing finance. They can explore new financing options and increase support and investments in innovative construction technology (i.e., modular construction). For the public sector - encompassing federal, state, and local governments, along with public housing authorities - is critical for funding and subsidizing housing. It can create incentives to use private capital effectively, enforce zoning and land use policies, and manage public programs. The social sector, including philanthropy and nonprofit providers, can support novel solutions and risk-taking, advocating for families, and providing direct services. With this framework in mind, and after looking at more than 80 different approaches, we identified five themes with the most promise: Taking specific action around these five themes could unlock an estimated 2.3 million housing units, including 700,000 for Black households, over the next decade. That would not close the entire affordable housing gap, but it would be a big step forward. Take number three, for example: Increasing off-site home construction by producing components in factories and assembling them on-site. This idea that has been around a long time, particularly modular construction which has both speed and cost benefits. But it has struggled to achieve scale, in large part because different cities have different code requirements. While these might have been meant well, the result is a series of bureaucratic hurdles that raise costs and delays. Streamlining codes and enhancing lender education around modular construction could add up to 190,000 affordable multifamily modular units over the next decade. There is an even bigger opportunity to unlock land by reimagining zoning. If jurisdictions allowed more single-family starts to be replaced by multi-family units and rezoned more vacant public land for higher-density development, that could add over one million housing units over the next decade. ### Having a good quality home at reasonable cost is fundamental to American opportunity. Concerted action to increase the supply of affordable housing could have benefits in terms of economic growth, investment, jobs, disinflation, and worker empowerment. And it would bring these opportunities closer to reality for millions.
Wall Street Journal
23-06-2025
- Business
- Wall Street Journal
You Can't Legislate Fertility
Nobody ever had a baby for the tax break. That's a simple reality that doesn't seem to have dawned on the social conservatives pushing what they call 'family friendly' provisions in the One Big Beautiful Bill Act currently working its way through the Senate. The bill contains several provisions that advocates say will be a boon to new parents and shore up the struggling American family. Don't count on it. Birthrates across the West have been plummeting for decades. In 1960, the average American woman had 3.65 children in her lifetime. That's fallen to about 1.6. It's a big problem in need of an urgent solution. But the fix won't be found in the tax code. European countries have showered families with tax incentives and child-care subsidies for years. All to no effect. In France, the law guarantees generous parental benefits, including paid leave, cash birth grants, child-care payments, mortgage support, and lower fares on public transit. For all this largess, fertility is no higher in France than in the U.S. In Hungary, the example par excellence of family-friendly public policy, birth rates are lower than they are here—and falling. The West is undeniably in the midst of a dangerous demographic collapse. The reasons are complex and hotly debated. Changing sex roles have certainly played a part. The female labor-force participation rate has nearly doubled since 1955. The precipitous decline in religious belief is also to blame. One thing's for certain: Tax policy has nothing to do with it.
CNN
13-05-2025
- Business
- CNN
Erin Burnett's whiteboard: Cost of Trump's trade war on families
Erin Burnett's whiteboard: Cost of Trump's trade war on families In conversation with LA Port's executive director, Gene Seroka, CNN's Erin Burnett shows on a whiteboard the cost of President Donald Trump's trade war on American families. 01:46 - Source: CNN See Edan Alexander's reunion with family after release Edan Alexander, the last known living American hostage in Gaza, was released by Hamas and reunited with his family on Monday, ending an 18-month ordeal that began with the militant group's October 7 attack. 00:40 - Source: CNN Trump's 'unprecedented' trade deal Just days ago, a de-escalation between the US and China seemed completely impossible. CNN's Phil Mattingly explains how the two countries got to the negotiating table and what it tells us about President Donald Trump's strategy moving forward. 01:32 - Source: CNN Pope Leo XIV sings first Regina Caeli prayer Pope Leo XIV delivered a 'message of peace' in his first Sunday blessing and led the faithful crowd in the Regina Caeli ('Queen of Heaven') prayer for the first time, surprising those gathered by singing part of the prayer. 00:39 - Source: CNN ICE arrest sparks chaos as crowd tried to intervene A chaotic scene unfolded in Worcester, Massachusetts, as onlookers attempted to intervene in an ICE raid, leading to the additional arrest of a 16-year-old teenager and another woman who was charged with assault and battery on a police officer. 01:35 - Source: CNN Analysis: Ceasefire may reveal Putin's goals CNN's Nick Paton Walsh explains that Ukraine's and European allies' demand for an unconditional 30-day ceasefire will pressure President Trump into seeing what President Putin's real goals are in Russia's war of choice. 01:35 - Source: CNN Analysis: How the India-Pakistan surprise ceasefire came about The India-Pakistan conflict was taking a dramatic turn for the worse. Until a surprise ceasefire was announced. CNN's Chief Global Affairs Correspondent Matthew Chance looks at how the truce came about. 01:21 - Source: CNN Utah is first state to ban decades-old health policy Utah becomes the first state to ban fluoride in public drinking water. CNN's Meg Tirrell reports on why the state is pivoting away from decades-old health policy despite concerns the ban will lead to a rise in health complications, especially among young children from low-income families. 01:13 - Source: CNN First cargo ships facing 145% tariffs arrive in LA Ships now pulling into LA's harbor from China are the first to be subject to massive tariffs. Shipments have dropped by 50%. CNN's Nick Watt is on the ground at the port of Los Angeles. 01:00 - Source: CNN Pilot of crashed plane describes what it was like being rescued from alligator-infested swamp Pablo Andrés Velarde, a pilot in Bolivia, emergency landed his plane after an engine failure but it was no paved tarmac that awaited the plane's wheels. Instead, Velarde and passengers found themselves stranded for days in marshland with alligators and snakes. The pilot described to CNN the harrowing rescue that ensued. 01:13 - Source: CNN Inside Terminal B as hundreds of flight delays hit major hub Newark International Airport was faced with pandemonium on Monday after hundreds of flights were delayed and more than 150 canceled following a FAA-ordered ground stop due to low cloud cover. CNN's Brynn Gingras was live from Terminal B where many international passengers were stranded for hours. 00:54 - Source: CNN Diddy Trial day one: Prospective jurors The jury selection in Sean "Diddy" Combs' racketeering and sex trafficking trial started today. CNN's Kara Scannell explains who the prospective jurors are and who has been dismissed. 00:57 - Source: CNN Confusion at packed New Jersey Motor Vehicle office as REAL ID deadline hits CNN's Danny E. Freeman visited Motor Vehicle offices in New Jersey where residents successfully, and unsuccessfully, tried to figure out the correct documents to get a REAL ID. Still others scrambled to figure out if their IDs were compliant with new TSA rules. 01:23 - Source: CNN Alcatraz's decay poses reopening challenges President Donald Trump announced he wants to turn Alcatraz Island into a working prison, but can the infrastructure hold up? CNN's Veronica Miracle visited the prison's first cellblock to see how infrastructure decay could significantly hamper reopening the facility. 00:32 - Source: CNN US stock market's rollercoaster ride since Trump took office President Donald Trump's first 100 days coincided with the stock market's third-worst start to any presidency in US history, only behind Richard Nixon and Gerald Ford. Yet by the 100-day mark of Trump's presidency, Wall Street has been shaken by historic levels of uncertainty and volatility. 00:51 - Source: CNN Rare volcanic eruption not seen in nearly 40 years Hawaii's Kilauea Volcano could be seen hurling lava upwards of 300 feet into the air during a series of 'rapid rebounds,' which scientists say hasn't been seen in nearly 40 years. 00:33 - Source: CNN Walmart shopper charged with attempted kidnapping Mahendra Patel walked into a Walmart in Acworth, Georgia looking for Tylenol but was later charged with trying to kidnap a two-year-old boy. Surveillance video obtained by the man's lawyer shows the incident. 01:11 - Source: CNN CNN anchors make Kentucky Derby predictions Every jockey, every owner and every trainer wants the chance to win the Kentucky Derby but only one of this year's 19 horses will do it. The bookies' favorite for this year's race is Journalism, trained by Michael McCarthy, at 3-1. No surprise, that name came up a lot when CNN anchors were asked whose got their pick. 00:57 - Source: CNN SpaceX's Starbase seeks Texas city status Starbase is an emerging community in Texas where SpaceX has long conducted its launches. On the brink of becoming an official city, CNN's Ed Lavandera examines how this transformation raises questions about Elon Musk's expanding influence and its implications for the local community and economy. 01:09 - Source: CNN CNN sports anchor explains how to bet on the Kentucky Derby Dubbed the 'Greatest Two Minutes in Sports' – a nod to its approximate run time – the Derby is the first race in US horse racing's coveted Triple Crown, which also includes the Preakness Stakes and the Belmont Stakes. 01:20 - Source: CNN Prince Harry: 'I would love reconciliation with my family' In an explosive interview with the BBC, Prince Harry says his father, King Charles, no longer speaks to him, and that he would 'love reconciliation' with the royal family. He spoke the same day he lost a court case over the UK government's decision to strip him of his police protection. CNN's Max Foster explains. 01:12 - Source: CNN How rich is the Ivy League? The Trump Administration has frozen billions of dollars in federal funding to Ivy League schools. These same institutions have endowments bigger than the GDPs of some small countries. So why do these universities need money from the federal government and what's at stake if they lose it? 02:49 - Source: CNN Worldwide protests on May Day Thousands of people across the country and around the world are demonstrating in the streets to celebrate May Day for various political reasons. Video shows protests turn violent in Paris. 01:03 - Source: CNN Will Ford raise prices due to Trump's tariffs? President Donald Trump signed an executive order and proclamation to ease auto tariffs, but the 25 percent tariff on imported cars remains in place and a new 25% tariff on auto parts will go into effect soon. CNN's Erin Burnett speaks with Ford CEO Jim Farley about how Trump's tariffs could impact vehicle pricing. 00:42 - Source: CNN High schoolers potentially facing kidnapping charges after hazing incident At least 11 high school students in Syracuse, New York, have 48 hours to turn themselves in or face felony charges of kidnapping for their alleged involvement in victimizing at least five younger lacrosse players in an incident the district attorney says 'goes way beyond hazing.' 01:25 - Source: CNN 'Where's my camera?': Astronaut shares wondrous views from space NASA astronaut Don Pettit describes his love for photography and the images he took in his first press conference since returning from his fourth mission to space. 00:48 - Source: CNN LA port director says it faces steep drop in shipping Port of Los Angeles Executive Director Gene Seroka shares that the port expects a steep drop in shipping amid President Donald Trump's tariffs. 00:55 - Source: CNN
CNN
13-05-2025
- Business
- CNN
Erin Burnett's whiteboard: Cost of Trump's trade war on families
Erin Burnett's whiteboard: Cost of Trump's trade war on families In conversation with LA Port's executive director, Gene Seroka, CNN's Erin Burnett shows on a whiteboard the cost of President Donald Trump's trade war on American families. 01:46 - Source: CNN See Edan Alexander's reunion with family after release Edan Alexander, the last known living American hostage in Gaza, was released by Hamas and reunited with his family on Monday, ending an 18-month ordeal that began with the militant group's October 7 attack. 00:40 - Source: CNN Trump's 'unprecedented' trade deal Just days ago, a de-escalation between the US and China seemed completely impossible. CNN's Phil Mattingly explains how the two countries got to the negotiating table and what it tells us about President Donald Trump's strategy moving forward. 01:32 - Source: CNN Pope Leo XIV sings first Regina Caeli prayer Pope Leo XIV delivered a 'message of peace' in his first Sunday blessing and led the faithful crowd in the Regina Caeli ('Queen of Heaven') prayer for the first time, surprising those gathered by singing part of the prayer. 00:39 - Source: CNN ICE arrest sparks chaos as crowd tried to intervene A chaotic scene unfolded in Worcester, Massachusetts, as onlookers attempted to intervene in an ICE raid, leading to the additional arrest of a 16-year-old teenager and another woman who was charged with assault and battery on a police officer. 01:35 - Source: CNN Analysis: Ceasefire may reveal Putin's goals CNN's Nick Paton Walsh explains that Ukraine's and European allies' demand for an unconditional 30-day ceasefire will pressure President Trump into seeing what President Putin's real goals are in Russia's war of choice. 01:35 - Source: CNN Analysis: How the India-Pakistan surprise ceasefire came about The India-Pakistan conflict was taking a dramatic turn for the worse. Until a surprise ceasefire was announced. CNN's Chief Global Affairs Correspondent Matthew Chance looks at how the truce came about. 01:21 - Source: CNN Utah is first state to ban decades-old health policy Utah becomes the first state to ban fluoride in public drinking water. CNN's Meg Tirrell reports on why the state is pivoting away from decades-old health policy despite concerns the ban will lead to a rise in health complications, especially among young children from low-income families. 01:13 - Source: CNN First cargo ships facing 145% tariffs arrive in LA Ships now pulling into LA's harbor from China are the first to be subject to massive tariffs. Shipments have dropped by 50%. CNN's Nick Watt is on the ground at the port of Los Angeles. 01:00 - Source: CNN Pilot of crashed plane describes what it was like being rescued from alligator-infested swamp Pablo Andrés Velarde, a pilot in Bolivia, emergency landed his plane after an engine failure but it was no paved tarmac that awaited the plane's wheels. Instead, Velarde and passengers found themselves stranded for days in marshland with alligators and snakes. The pilot described to CNN the harrowing rescue that ensued. 01:13 - Source: CNN Inside Terminal B as hundreds of flight delays hit major hub Newark International Airport was faced with pandemonium on Monday after hundreds of flights were delayed and more than 150 canceled following a FAA-ordered ground stop due to low cloud cover. CNN's Brynn Gingras was live from Terminal B where many international passengers were stranded for hours. 00:54 - Source: CNN Diddy Trial day one: Prospective jurors The jury selection in Sean "Diddy" Combs' racketeering and sex trafficking trial started today. CNN's Kara Scannell explains who the prospective jurors are and who has been dismissed. 00:57 - Source: CNN Confusion at packed New Jersey Motor Vehicle office as REAL ID deadline hits CNN's Danny E. Freeman visited Motor Vehicle offices in New Jersey where residents successfully, and unsuccessfully, tried to figure out the correct documents to get a REAL ID. Still others scrambled to figure out if their IDs were compliant with new TSA rules. 01:23 - Source: CNN Alcatraz's decay poses reopening challenges President Donald Trump announced he wants to turn Alcatraz Island into a working prison, but can the infrastructure hold up? CNN's Veronica Miracle visited the prison's first cellblock to see how infrastructure decay could significantly hamper reopening the facility. 00:32 - Source: CNN US stock market's rollercoaster ride since Trump took office President Donald Trump's first 100 days coincided with the stock market's third-worst start to any presidency in US history, only behind Richard Nixon and Gerald Ford. Yet by the 100-day mark of Trump's presidency, Wall Street has been shaken by historic levels of uncertainty and volatility. 00:51 - Source: CNN Rare volcanic eruption not seen in nearly 40 years Hawaii's Kilauea Volcano could be seen hurling lava upwards of 300 feet into the air during a series of 'rapid rebounds,' which scientists say hasn't been seen in nearly 40 years. 00:33 - Source: CNN Walmart shopper charged with attempted kidnapping Mahendra Patel walked into a Walmart in Acworth, Georgia looking for Tylenol but was later charged with trying to kidnap a two-year-old boy. Surveillance video obtained by the man's lawyer shows the incident. 01:11 - Source: CNN CNN anchors make Kentucky Derby predictions Every jockey, every owner and every trainer wants the chance to win the Kentucky Derby but only one of this year's 19 horses will do it. The bookies' favorite for this year's race is Journalism, trained by Michael McCarthy, at 3-1. No surprise, that name came up a lot when CNN anchors were asked whose got their pick. 00:57 - Source: CNN SpaceX's Starbase seeks Texas city status Starbase is an emerging community in Texas where SpaceX has long conducted its launches. On the brink of becoming an official city, CNN's Ed Lavandera examines how this transformation raises questions about Elon Musk's expanding influence and its implications for the local community and economy. 01:09 - Source: CNN CNN sports anchor explains how to bet on the Kentucky Derby Dubbed the 'Greatest Two Minutes in Sports' – a nod to its approximate run time – the Derby is the first race in US horse racing's coveted Triple Crown, which also includes the Preakness Stakes and the Belmont Stakes. 01:20 - Source: CNN Prince Harry: 'I would love reconciliation with my family' In an explosive interview with the BBC, Prince Harry says his father, King Charles, no longer speaks to him, and that he would 'love reconciliation' with the royal family. He spoke the same day he lost a court case over the UK government's decision to strip him of his police protection. CNN's Max Foster explains. 01:12 - Source: CNN How rich is the Ivy League? The Trump Administration has frozen billions of dollars in federal funding to Ivy League schools. These same institutions have endowments bigger than the GDPs of some small countries. So why do these universities need money from the federal government and what's at stake if they lose it? 02:49 - Source: CNN Worldwide protests on May Day Thousands of people across the country and around the world are demonstrating in the streets to celebrate May Day for various political reasons. Video shows protests turn violent in Paris. 01:03 - Source: CNN Will Ford raise prices due to Trump's tariffs? President Donald Trump signed an executive order and proclamation to ease auto tariffs, but the 25 percent tariff on imported cars remains in place and a new 25% tariff on auto parts will go into effect soon. CNN's Erin Burnett speaks with Ford CEO Jim Farley about how Trump's tariffs could impact vehicle pricing. 00:42 - Source: CNN High schoolers potentially facing kidnapping charges after hazing incident At least 11 high school students in Syracuse, New York, have 48 hours to turn themselves in or face felony charges of kidnapping for their alleged involvement in victimizing at least five younger lacrosse players in an incident the district attorney says 'goes way beyond hazing.' 01:25 - Source: CNN 'Where's my camera?': Astronaut shares wondrous views from space NASA astronaut Don Pettit describes his love for photography and the images he took in his first press conference since returning from his fourth mission to space. 00:48 - Source: CNN LA port director says it faces steep drop in shipping Port of Los Angeles Executive Director Gene Seroka shares that the port expects a steep drop in shipping amid President Donald Trump's tariffs. 00:55 - Source: CNN
