Wealth in the United States

Historical Barriers And Structural Inequalities Still Account For Black-White Homeownership Gap

Wednesday, October 28, 2020 - 12:01am

In 2019, 25.6% of the Black population resided in areas where the median house price is above that for the U.S. -- $253,000.

Key Points: 
  • In 2019, 25.6% of the Black population resided in areas where the median house price is above that for the U.S. -- $253,000.
  • The homeownership rate for Blacks who graduated from college is only 3.2 percentage points higher than that of White high school dropouts.
  • The Black American wealth gap rests in large part on the ever-present institutional barriers Black Americans face at every step of the home buying process.
  • These and other findings from the SHIBA report were discussed today at NAREB's 2nd Annual National Conversation on Black Homeownership.

Members of the Sackler Family Who Served on Purdue's Board Issue Statement about Department of Justice Announcement

Wednesday, October 21, 2020 - 8:06pm

Members of the Sackler family who served on Purdue's board issued the following statement today about the Department of Justice announcement:

Key Points: 
  • Members of the Sackler family who served on Purdue's board issued the following statement today about the Department of Justice announcement:
    "Members of the Sackler family who served on Purdue's board of directors acted ethically and lawfully, and the upcoming release of company documents will prove that fact in detail.
  • This history of Purdue will also demonstrate that all financial distributions were proper.
  • "As members of the board, we adopted rigorous policies requiring Purdue to be in full compliance with the law.
  • "Regarding the plea agreement between the government and Purdue, no member of the Sackler family was involved in that conduct or served in a management role at Purdue during that time period."

New Study Finds Estate Planning Solutions from Biden Tax Plan, Wealth Advisors Trust Report Finds

Sunday, October 18, 2020 - 4:05pm

RAPID CITY, S.D., Oct. 18, 2020 /PRNewswire-PRWeb/ --A team lead by family corporate trustee management expert, Christopher Holtby, has published a report about estate tax issues and solutions affecting the top 1% of wealthy families in America.

Key Points: 
  • RAPID CITY, S.D., Oct. 18, 2020 /PRNewswire-PRWeb/ --A team lead by family corporate trustee management expert, Christopher Holtby, has published a report about estate tax issues and solutions affecting the top 1% of wealthy families in America.
  • The report concluded:
    a) Current estate and gift tax exemption amount, inflation adjusted, highest level in 100 years.
  • c) November election results could reduce estate and gift tax exemption amounts by 50% or more.
  • For questions about the report, a comment on the findings, or an introduction to the industry experts included in this report, contact, Christopher Holtby at holtby@wealthadvisorstrust.com
    Wealth Advisors Trust Company, based in South Dakota, revolutionizes trust administration with common sense.

Redlining's Legacy of Inequality: $212,000 Less Home Equity, Low Homeownership Rates for Black Families

Thursday, June 11, 2020 - 5:00pm

The racist lending practice effectively blocked Black families from obtaining loans by assigning low mortgage security ratings to predominantly Black neighborhoods and color-coding them in red on maps.

Key Points: 
  • The racist lending practice effectively blocked Black families from obtaining loans by assigning low mortgage security ratings to predominantly Black neighborhoods and color-coding them in red on maps.
  • The gap has widened in all neighborhood types except those that were formerly redlined, where Black and white families both have relatively low homeownership rates (29.8% and 45.6%, respectively).
  • "It's important to note that other factors play a role in lower homeownership rates for Black families, too.
  • The homeownership rate for greenlined areas in Atlantic City, NJ is just 14.8% for Black families, versus 75.3% for white families.

Herbert B. Rosenberg Joins Ryan as Director

Monday, May 4, 2020 - 1:00pm

Ryan , a leading global tax services and software provider, announced today that Herbert B. Rosenberg has joined the Firm as a Director in the Commercial Property Tax practice to represent real estate clients in Illinois.

Key Points: 
  • Ryan , a leading global tax services and software provider, announced today that Herbert B. Rosenberg has joined the Firm as a Director in the Commercial Property Tax practice to represent real estate clients in Illinois.
  • Mr. Rosenberg brings a diverse book of business to Ryan, comprised of a wide variety of commercial, industrial, and retail properties.
  • Mr. Rosenberg has been practicing for 50 years and has focused on representing property owners with real estate tax reduction.
  • Ryan, an award-winning global tax services and software provider, is the largest Firm in the world dedicated exclusively to business taxes.

Jupai Reports Full Year 2019 Results

Friday, March 13, 2020 - 10:00am

[3]"Active clients" for a given period refers to clients who purchase wealth management products distributed by Jupai at least once during that given period.

Key Points: 
  • [3]"Active clients" for a given period refers to clients who purchase wealth management products distributed by Jupai at least once during that given period.
  • The amount of AUM of Jupai is recorded and carried based on the historical cost of the contributed assets instead of fair market value of assets for almost all AUM of Jupai.
  • Operating costs and expensesfor the full year 2019 were RMB922.6 million (US$132.5 million), a decrease of 37.7% from 2018.
  • General and administrative expenses for the full year 2019 were RMB265.5 million (US$38.1 million), a decrease of 3.4% from 2018.

Encouraging Signs For Black Homeownership Rate as it Rebounds From Historic Lows

Tuesday, February 18, 2020 - 1:00pm

In general, areas with a higher share of black residents have a higher black homeownership rate.

Key Points: 
  • In general, areas with a higher share of black residents have a higher black homeownership rate.
  • There are some areas where the black homeownership rate is higher than might be expected based on the area's black population.
  • San Antonio has the 37th-highest share of black residents among those included in this analysis, but the black homeownership rate there (42.9%) ranks 14th.
  • The situation is similar in Riverside (15th-highest black homeownership rate; 35th-highest share of black residents), Orlando (6th-highest black homeownership rate; 24th-highest share of black residents) and Sacramento (23rd-highest black homeownership rate; 39th-highest share of black residents).

Global Very High Net Worth Population Grows to 2.7 million with over $26 trillion in Combined Wealth

Thursday, February 13, 2020 - 1:00pm

The Very High Net Worth Handbook 2020 analyzes the world's very high net worth (VHNW) population (those with $5 to $30 million in net worth) revealing significant growth in 2019, rising by 10.2% to nearly 2.7 individuals.

Key Points: 
  • The Very High Net Worth Handbook 2020 analyzes the world's very high net worth (VHNW) population (those with $5 to $30 million in net worth) revealing significant growth in 2019, rising by 10.2% to nearly 2.7 individuals.
  • The VHNW population's combined wealth increased alongside the population, expanding 10.2% to nearly $26.6 trillion.
  • Further key insights from the Wealth-X Very High Net Worth Handbook 2020 include:
    The VHNW population and their combined wealth grew by over 10%: a sharp acceleration in growth from just 1% in 2018.
  • Historically, Wealth-X has focused solely on tracking ultra high net worth (UHNW) individuals - those with a net worth of $30 million or more.

Industry Top Rated Lake Mary, Florida Financial Planner and Wealth Advisor Broadcasts Newest Radio Show

Thursday, December 19, 2019 - 9:00am

Oliver and his team of financial planners at The Hidden Wealth Solution help clients build a market correction and tax protection plan to ensure one's financial safety, liquidity, and retirement savings are secured.

Key Points: 
  • Oliver and his team of financial planners at The Hidden Wealth Solution help clients build a market correction and tax protection plan to ensure one's financial safety, liquidity, and retirement savings are secured.
  • In Oliver's recent radio broadcast, he discussed the importance of proactive 2020' new year's resolution focus on retirement market correction and tax protection planning.
  • To hear Oliver's archived show visit online at: https://thehiddenwealthsolution.com/hidden-wealth-radio/
    The Hidden Wealth Solution is a recognized top rated financial and wealth advisory firm in Lake Mary, Florida.
  • My new book is entitled "The Savings Tax Optimization Plan, the unfair advantage to paying the least amount of tax".

Penn Wharton Budget Model Scores Senator Warren's Wealth Tax

Thursday, December 12, 2019 - 5:00am

PHILADELPHIA, Dec. 12, 2019 /PRNewswire-PRWeb/ -- Since Senator Elizabeth Warren announced her proposal to tax wealth, a few questions have arisen: How much money would these taxes actually raise?

Key Points: 
  • PHILADELPHIA, Dec. 12, 2019 /PRNewswire-PRWeb/ -- Since Senator Elizabeth Warren announced her proposal to tax wealth, a few questions have arisen: How much money would these taxes actually raise?
  • Penn Wharton Budget Model (PWBM), the nonpartisan, independent applied research organization housed at the Wharton School of the University of Pennsylvania, has analyzed the budgetary and economic effects of Senator Warren's most recent iteration of her wealth tax proposal, which imposes a 2 percent tax on net worth above $50 million and a 6 percent tax on net worth above $1 billion.
  • Through its analysis PWBM projects:
    The proposed wealth tax will raise between $2.3 trillion and $2.7 trillion over ten years, roughly about $1.0 to $1.4 trillion less than the Warren campaign's estimate.
  • The proposed wealth tax would shrink the economy between 0.9 and 2.1 percent by 2050, depending on how the additional tax revenue is spent.