Posts by Stephanie Horan:
Whether due to societal changes or lack of savings, many Americans have delayed homeownership. According to a National Association of Realtors report, the median age of first-time homebuyers in 2019 was 33 years old, three years older than it was a decade prior. Moreover, a recent Zillow analysis shows that the typical first-time homebuyer now rents for six years before settling down in one place, more than double the amount of time needed in the early 1970s. Read more
Between 2015 and 2019, the total American workforce grew by about 8.7 million workers, with 4.4. million women and 4.3 million men securing employment. Though female and male workers joined the workforce at almost equal rates, certain jobs have seen huge increases in female employment specifically, allowing for further opportunities for women to more easily cover their expenses and meet their savings goals. Read more
With mortgage rates falling and a renewed emphasis put on living space during COVID-19, U.S. home sales have boomed. Data from the National Association of Realtors shows that sales of previously owned homes increased by 20.7% over the month of June and rose an additional 24.7% during July. Meanwhile, based on the Census’ Survey of Construction, sales of new homes increased by 15.1% and 13.8% during June and July, respectively. Read more
In 2018, the median monthly rent for a studio was $891 while the median rent for a one-bedroom rental was $911. This means that the average renter living alone in America spends upwards of $10,600… Read more
In light of the COVID-19 crisis, many individuals are reconsidering where they live. According to a July 2020 Pew Research Center study, about a fifth of U.S. adults moved due to coronavirus or know… Read more
Earlier this spring, SmartAsset decided to take a closer look at where people had responded to the 2020 Census the most. Since the publication of our original study in May, the Census Bureau moved up… Read more
With many small businesses struggling to maintain their financial reserves during COVID-19, Bank of America, JPMorgan Chase and Wells Fargo were the U.S. lenders that originated the highest number of… Read more
As a result of the coronavirus pandemic, many Americans have had trouble covering expenses – especially rent – in recent months. According to data from the National Multifamily Housing Council, less… Read more
Millennials are much more likely to move than their generational counterparts. IRS data shows than less than 30% of taxpayers are younger than age of 35, but from 2017 to 2018, more than half of tax… Read more
Many economists have theorized about what the shape of the COVID-19 recession – in other words, the possibilities for recovery – will be. Some individuals are still holding out hope for a “V-shaped”… Read more
Bureau of Labor Statistics data shows that there are about 33.6 million families in the U.S. with children under the age of 18. In 2018, at least one parent was employed in almost 91% of those family… Read more
Though efforts to slow the spread of coronavirus across the U.S. have squeezed many local economies and the bank accounts of their residents, college towns are among the most vulnerable. They are… Read more
Finding a home to fit a family can be a difficult task. Beyond looking for the right number of bedrooms and bathrooms, prospective owners must consider the full costs of homeownership. Though a… Read more
Only 55% of non-retired American adults have money in a defined contribution plan such as an IRA or 401(k), according to 2019 data collected by the Federal Reserve. With the coronavirus pandemic… Read more
The gender unemployment gap is defined as the difference between female and male unemployment rates. A “positive” gap indicates that female unemployment is higher than male unemployment while a … Read more
Overseen by the Small Business Administration (SBA), the Paycheck Protection Program (PPP) is the largest fixture of federal coronavirus financial relief programs. The program provides forgivable… Read more
Young adults today move more than previous generations. A recent Zillow study found that in 2017, close to one in two millennials – more than 45% – had lived in their current home for fewer than two… Read more
The U.S. unemployment rate rose nationally by 11.2 percentage points between February 2020 and April 2020, from 3.5% to 14.7%. While unemployment has risen throughout the country, compromising job… Read more
Despite various government relief programs, the coronavirus crisis has already affected the finances of many Americans. Over the past eight weeks, more than one in four individuals filed for… Read more
The coronavirus pandemic has drastically impacted the budgets of not only individuals, but also states. State revenues have declined due to delays in income tax collections along with decreases in… Read more
April 1, 2020 marked the original self-response deadline of the 24th Census in the U.S. As mandated by the constitution, the decennial count determines how many congressional seats each state gets,… Read more
Last Friday, the Bureau of Labor Statistics (BLS) published its anxiously awaited April 2020 Employment Report, perhaps the first comprehensive look beyond jobless claims on how coronavirus and the… Read more
Passed on March 27, 2020, the Coronavirus Aid, Relief and Economic Security (CARES) Act provided Americans with one-time economic impact payments, commonly referred to as stimulus checks. Under the… Read more
On March 20 of this year, the IRS announced that as a result of the global coronavirus pandemic, the 2020 tax deadline would be moved from the typical filing date of April 15 to July 15. Following… Read more
In the last week of February 2020, stock markets worldwide reported their largest one-week decline since the 2008 financial crisis, with the Dow Jones Industrial Average and S&P 500 falling by 12%… Read more
