California's high housing costs are driving poor and middle income people out of their housing like never before. While some are fleeing coastal areas for cheaper living inland, others are leaving the state altogether.
The gulf between those at the upper ends of the wealth ladder and lower-income Americans has worsened markedly since the financial crisis, despite the trillions of subsidies that taxpayers provide for housing.
A Fed committee studying Libor’s replacement has dwelled heavily on the potential impact to the derivatives market. Loans may become a bigger part of the conversation later this year, but the panel plans to leave a lot of the specifics up to lenders.