posted on 06 February 2017
More People Believed General Economic Conditions In Low- And Moderate-income Communities Were Declining Than Improving
from the St Louis Fed
The latest Community Development Outlook Survey, produced by the St. Louis Fed’s community development department, aims to capture trends and outlooks affecting LMI (Low- And Moderate-income) communities in the Eighth Federal Reserve District.
General Economic Conditions
Survey participants were asked to compare the general economic conditions of the areas they serve to one year prior. The majority of respondents (61.5 percent) said that conditions were staying the same, while 20.9 percent said they were declining, and 17.6 percent said they were improving.
Meeting the Needs of LMI Individuals
Participants were also asked about the well-being of LMI individuals and their ability to meet basic needs. As with the question on general economic conditions, most respondents (62.1 percent) said things were staying the same.
However, 25.7 percent said that well-being and ability to meet needs were declining, compared with only 12.2 percent saying they were improving. The report noted that a lower percentage of respondents the previous year (17.2 percent) said well-being and ability to meet needs was declining.
The Future Status of LMI People and Households
Still, 37.8 percent of survey respondents said they expected the status of LMI people and households to be better in three to five years, while only 20.6 percent expected their status to be worse. The remainder said things should remain about the same.
Greatest Negative Impacts
Participants were asked about the greatest negative impact on LMI households and communities. Their responses are in the table below.
The report noted that this was the second year in a row that generational poverty was the top issue. It also noted that the percentage of people who said availability of affordable housing was the top issue more than doubled, going from 7.9 percent in 2015 to 16.2 percent in 2016.
Notes and References
1 The survey was sent to community stakeholders in the seven states that comprise the Eighth District, which are Arkansas, Illinois, Indiana, Kentucky, Mississippi, Missouri and Tennessee.
Views expressed are not necessarily those of the Federal Reserve Bank of St. Louis or of the Federal Reserve System.
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