Nowhere is the divide between rich and poor more apparent than in the backyard.
Home values in the top 10% wealthiest communities are worth more than six times that in the bottom 40%, a new survey has found.
Put another way, these rich communities hold nearly 52% of housing wealth, compared to only 8% owned by the lower rungs, according to The Demand Institute, which assessed 2,200 largest communities across the nation. The institute, which is operated by The Conference Board and Nielsen, looked at total market value of owner-occupied housing in these cities, towns and villages, which are home to half of the nation's residents.
Institute researchers were surprised by the depth of the divide that exists among communities in the U.S.
"You see a real concentration of wealth in a few places," said Louise Keely, the institute's chief research officer.
Wealthier communities have also weathered the housing collapse better. The total home value of this group rose 73% between 2000 and 2012, compared to 59% for the bottom rungs.
The institute identified what it called Affluent Metroburbs, which are established, wealthy communities near big cities. These include Pinecrest, Fla., Madison, N.J. and Laguna Hills, Calif.
It also designated other locales as Endangered Communities, which are truly distressed areas with weak housing markets and severe socioeconomic problems. These include Decatur, Ill., Wilkes-Barre, Pa. and Gainesville, Texas.
For more information on the nine different community profiles and specific information on the cities within them, check out the institute's report.
Although the Fed has been juicing the economy since late 2008, it doesn't feel that way to many people on Main Street. That's because a key part of the process has broken down.
Tight credit and a large number of underwater homeowners means that many middle-class Americans simply haven't been able to benefit from the Fed's low interest rates.
Now that the housing recovery is underway, that could change, said Federal Reserve MOREAnnalyn Kurtz - Apr 18, 2013 3:17 PM ET
The Federal Reserve's Beige Book notes that more regions of the country have started slowing recently.
The report paints a picture of a "modest to moderate" recovery in June and early July, with better news coming from the housing market in particular. But one pocket of the country including the region surrounding New York, Pennsylvania and Ohio saw economic growth slow recently, the report said.
Previously, only the Philadelphia region had MOREAnnalyn Kurtz - Jul 18, 2012 2:24 PM ET
In a report on its 12 regional districts known as the "Beige Book," the Federal Reserve said that "overall economic activity expanded at a moderate pace." That's not particularly great news. The "moderate pace" thing is the same line we've been hearing for months now.
"Moderate" is actually one of the better scenarios in recent Fed parlance. Economic improvements have been a mixed bag of "moderates," "modests," and "steadys" for some MOREKaren McGowan - Jun 6, 2012 4:39 PM ET
China's booming economy is giving to the poor and taking from the rich when it comes to housing.
Some 14% of both the rich and the poor said they had trouble affording shelter in 2011, according to a recent Gallup survey. That's a dramatic change for each group in recent years, but the shifts were in opposite directions.
For the poor, 14% is half the percentage of people who didn't have enough MORETami Luhby - Mar 27, 2012 2:32 PM ET
The collapse of the housing bubble has further widened the home ownership inequality gap.
Black households, as well as the poorest households and those headed by high school dropouts, did not benefit much from the housing boom, but got hit hard by the subsequent bust, a new analysis of Census data by Fordham University Professor Emily Rosenbaum has found.
During the 1990s, blacks and Hispanics made gains that narrowed the home ownership MORETami Luhby - Mar 22, 2012 10:58 AM ET
Foreclosure sales are on the rise, even in states where banks need court approval to foreclose on a home.
Sales rose to 91,000 in January, up 29% from the month before, according to LPS Mortgage Monitor.
Foreclosure sales are when a bank completes the foreclosure process and takes possession of the home.
Experts have been closely monitoring foreclosure activity for signs of a resurgence.
Foreclosure sales had dropped in the fall of 2010 after MORETami Luhby - Mar 6, 2012 9:06 AM ET
More home buyers are bringing cash to the table these days.
All-cash transactions hit a record 34.1% of all home purchases last month, according to Campbell/Inside Mortgage Finance HousingPulse Tracking Survey. That's up from 29.4% a year go.
"Despite near record low mortgage rates, homebuyers are finding it very advantageous in the current housing market to shop with cash," according to the survey. "And low returns on money deposited in banks as MORETami Luhby - Feb 29, 2012 4:17 PM ET
Will the housing market finally improve in 2012? The Carlyle Group thinks so.
The influential private equity firm issued a report Wednesday entitled "A New Dawn for U.S. Housing," in which it forecasts that housing construction and renovation will boost economic growth this year more than most think.
Assets linked to the housing industry have outperformed the overall market since the end of September and have "significant room to appreciate," the firm MORETami Luhby - Feb 29, 2012 3:45 PM ET
|Overnight Avg Rate||Latest||Change||Last Week|
|30 yr fixed||3.80%||3.78%|
|15 yr fixed||3.14%||3.14%|
|30 yr refi||3.78%||3.76%|
|15 yr refi||3.12%||3.14%|
Today's featured rates:
|Latest Report||Next Update|
|Home prices||Aug 28|
|Consumer confidence||Aug 28|
|Manufacturing (ISM)||Sept 4|
|Inflation (CPI)||Sept 14|
|Retail sales||Sept 14|