Hope and Change Watch.
From the Washington Post:
The study is part of a growing body of research on the role of household wealth — or lack thereof — in amplifying the impact of the recession and slowing the rate of recovery. Traditionally, economists and policymakers have focused on the effects of employment and income.
But the report from the St. Louis Fed argued that swings in household balance sheets — which include home values, stock prices, savings and debt — were critical in determining which families weathered the financial storm and which got swept away.
The report found that the most fragile households were not well educated, relatively young or black or Hispanic, or some combination of those characteristics. Those families tended to have low savings combined with high debt and accrued much of their wealth through housing.