by
Evan Stewart,
Mar 6, 2013, at 11:00 am

Photo by Richard Eriksson via flickr.com.
Thinking about moving conjures images of moving up—for a better job, a cooler city, or even that deluxe apartment in the sky. However, a recent article from USA Today paints a much different picture about the reasons people in the U.S. pack up and go.
The report sums up a new analysis of Census data presented by the US 2010 project under the leadership of Brown University sociologist John Logan. It confirms our worst suspicions about the Great Recession: more people are moving down into cheaper housing, having lost their jobs or taken pay cuts. From the article:
“Typically, over the last couple of decades, when Americans moved, they moved to improve their lives,” said Michael Stoll, author of the research and chairman of UCLA’s public policy department. “This is the shock: For the first time, Americans are moving for downward economic mobility. Either they lost their house or can’t afford where they’re renting currently or needed to save money.”
In the face of the data, maybe it’s time to stop humming the theme from “The Jeffersons” and start listening to the words of Billy Joel: “If that’s movin’ up,” well, we’re just “movin’ out.”
by
Erin Hoekstra,
Feb 14, 2013, at 10:04 am

A chart from O’Rourke’s paper, via the Boston Globe.
A social problem examined by sociologists for decades, the white-black wealth gap has widened to record highs during the recession, with the median wealth for white households at twenty times that of their black counterparts. On the Boston Globe’s Brainiac blog, Kevin Hartnett shares a recent study by Princeton sociology graduate student Rourke O’Brien. The study quantitatively tests the idea that this wealth discrepancy is due, in part, to giving or loaning money to relatives.
Middle-income blacks are more than twice as likely as middle-income whites to have a poor sibling and more than four times as likely to have parents below the poverty line. And because of these relationships, they’re called upon more often to provide financial assistance.
Whereas investments can be used to generate more wealth, gifts and informal loans to family members are usually spent paying bills or covering immediate financial needs. O’Brien argues that informal financial support networks can account for roughly 27% of the white-black wealth gap.