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The trend is part of what drove the overall slight growth of the rural population in the United States from 2016 to 2017, for the first time since 2010, according to a Stateline analysis of census data. (Rural counties are those defined by the US Office of Management and Budget as outside cities and their suburbs.) The population in rural counties grew by only about 33,000 during that time, to about 46 million. While counties with large mining and farming industries shrank, counties with large recreation industries grew the most, by about 42,000, to about 6.3 million. more »

Jo Freeman reviews and writes: Alan Venable was one of Hope’s kids. A junior at Harvard, he joined 18 students from Brandeis University and four from other Boston area schools to go to Columbia S.C. for ten weeks. After two weeks, six of them moved to Calhoun County. When they started canvassing only 490 blacks were registered to vote in that county. They registered 114 in July, under the very restrictive registration rules typical of the Southern states, which were generally applied to blacks but not to whites. When the VRA became law on August 6, it removed the literacy test. Another 500 registered in the next two months. more »

House price growth has varied significantly nationwide since the end of the Great Recession in 2009: In some metropolitan statistical areas (MSAs), prices have grown as quickly as 7 percent annually, while others have seen prices decline almost as quickly, with many more MSAs falling somewhere in between. Since households spend more on housing than any other good or service, we would expect that inflation rates would show the same variation. They do not.  more »

The ripple effects of a market collapse would be severe, and taxpayers would potentially be on the hook for losses posted by failed mortgage companies. In addition to loans backed by the FHA or VA, the government is exposed through Ginnie Mae, the federal agency that provides payment guarantees when mortgages are pooled and sold as securities to investors. The mortgage companies are supposed to bear the losses if these securitized loans go bad. But if those companies go under, the government “will probably bear the majority of the increased credit and operational losses,” the paper concludes. Ginnie Mae is especially vulnerable because almost 60 percent of the dollar volume of the mortgages it guarantees comes from nonbank lenders. more »