🏠 IMSPARK: A Pacific Future with Fair and Equitable Access to Homeownership 🏠

🏠 Imagine… A Pacific Future with Fair and Equitable Access to Homeownership 🏠

💡 Imagined Endstate: 

A region that has fostered a culture of inclusion and diversity, where everyone has equal opportunity to build wealth and stability through homeownership.

🔗Link:

Ref Here: 

📚Source: 

Brown, J. R., & Cookson, J. A. (2024). Lender-reported reasons for mortgage denials don’t explain racial disparities. Federal Reserve Bank of Minneapolis. 

💥 What’s the Big Deal: 

The article by Brown and Cookson (2024) reveals that Black and Hispanic applicants are more likely to be denied mortgages than White applicants, even after controlling for income, credit score, and other factors. 🏦  The authors find that the lender-reported reasons for denials, such as debt-to-income ratio, credit history, and collateral, do not fully account for the racial gap in mortgage outcomes. 🌈 This suggests that there may be other factors at play, such as discrimination, bias, or structural barriers, that prevent people of color from accessing homeownership.

Homeownership is a key source of wealth and economic security for many Americans, especially in the Pacific region, where housing prices are high and rising. 🏘️ However, the racial gap in homeownership has persisted for decades, contributing to the racial wealth gap and intergenerational inequality. 📈 By addressing the root causes of mortgage denials and ensuring fair and equitable access to homeownership, the Pacific region can empower more people of color to achieve their financial goals and improve their quality of life.

#homeownership,#racialequity, #Mortgage,#WealthGap,#Pacific,#Poverty, #Inequality, #Participatory,#RICEWEBB, #IMSPARK,

🌎IMSPARK: How the World’s Wealth Distribution is Changing🌎

🌎Imagine... How the World’s Wealth Distribution is Changing 🌎

                                                                           (Courtesy Visual Capitalist)

💡 Imagined Endstate: 

A more equitable and sustainable global economy where everyone has access to opportunities and resources. 

🔗 Link: 

More Info Here

📚 Source:

 Visual Capitalist. (2023, November 29). Who controls global wealth? [Infographic

💥 What’s the Big Deal: 

The world’s wealth distribution is highly skewed, with millionaires holding nearly half of the net household wealth. 🙌However, this share is projected to decline slightly by 2027, as the global middle class expands and more people move out of poverty. 🚀 Understanding how wealth is distributed and changing can help us address the challenges and opportunities of economic development. 

#WealthEquity,#WealthGap, #GDP,#globalmarket,#IMSPARK, 

 

IMSPARK BABY BONDS (Video)

🎯 IMSPARK: Imagine Baby Bonds as a Means to Counter Child Poverty

 

💡 In today's episode, we explore Baby Bonds, a proposed policy for government-funded savings accounts for children under 18, with the potential to close wealth gaps and empower children with a means to create mobile assets for the future.

 🌟 Imagined Endstate:

Imagine a future where Baby Bonds empower savings accounts for children under 18.

With the potential to substantially close the wealth gap in the United States.

Aimed at promoting economic mobility for lower-income families and reducing child poverty.

Children have the opportunity to build assets, break the cycle of poverty, and achieve financial stability throughout their lives.

📚 References:

 - Morningstar Policy Research

- Prosperity Now

- Imagine Pacific Envisioned Analysis

💼 What's the Big Deal:

 Baby Bonds create a foundation of savings from birth, enabling the opportunity to accumulate assets and build wealth over time.

While they may not fully close existing wealth gaps, they provide a crucial starting point and a structured way to initiate savings and financial growth for those who might not have had access otherwise.

Baby Bonds offer an avenue for individuals to start building wealth and assets, particularly important for those without similar opportunities.

👋 Thank You for Watching IMSPARK: Imagine Baby Bonds as a Means to Counter Child Poverty! Don't forget to like, subscribe, and check out Imagine Pacific for more episodes of IMSPARK and more from the Imagine Pacific YouTube Channel.