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Demographics Trends

Friday, July 8, 2016

By Cheryl Russell for Demo Memo

Finances Getting Better or Worse?

Economic well-being in 2015

28% living comfortably
41% doing okay
22% just getting by
9% finding it difficult to get by

The 69 percent of Americans who were doing okay or living comfortably in 2015 was 4 percentage points greater than in 2014—a statistically significant increase, according to the report. But some are doing better than others. The 2015 survey included a panel of 2014 respondents, which was asked whether their finances had gotten better or worse over the past year. Among those living comfortably in 2014, a substantial 35 percent were doing even better in 2015 and 7 percent were worse. Among those finding it difficult to get by in 2014, only 18 percent were doing better in 2015 and fully 49 percent said their finances were even worse.

Source: Federal Reserve Board, Report on the Economic Well-Being of U.S. Households in 2015

Median New House Price at Record High

Median price of new single-family houses sold (in 2015 dollars)

2015: $296,400 (new record high)
2014: $283,136
2013: $273,586
2012: $253,128
2011: $239,399 (post-Great Recession low)
2010: $241,087
2009: $239,407
2008: $255,508
2007: $283,380
2006: $289,805
2005: $292,357 (previous record high)

Source: Census Bureau, Characteristics of New Housing

Change in Life Expectancy 2000-2014

The life expectancy at birth of non-Hispanic Whites increased by 1.4 years between 2000 and 2014, according to the National Center for Health Statistics—well below the increase for Hispanics or non-Hispanic Blacks.

Life expectancy at birth in 2014 (and change since 2000)

Blacks, non-Hispanic: 75.2 years (+3.6)
Hispanics: 81.8 years (+2.6)
Whites, non-Hispanic: 78.8 years (+1.4)

What explains the smaller increase in the life expectancy of non-Hispanic Whites? Rising death rates from unintentional poisoning, suicide, and chronic liver disease, reports NCHS. Between 2000 and 2014, the overall death rate rose among non-Hispanic Whites in three age groups: 25 to 34, 35 to 44, and 45 to 54. "Increases in death rates due to unintentional poisonings (mostly drug and alcohol poisoning) for these three age groups had the single greatest negative effect on the change in life expectancy," concludes the report.

Source: National Center for Health Statistics, Mortality Data, The Effect of Changes in Selected Age-Specific Causes of Death on Non-Hispanic White Life Expectancy between 2000 and 2014

New Houses Still Getting Bigger

Americans are buying bigger and bigger homes. The size of new single-family houses sold in 2015 hit another record high. The median square feet of floor area in new houses sold has increased in every year since 2009. Houses sold in 2015 were 21 percent larger than those sold in 2000.

Median square feet of floor area in new single-family houses sold

2015: 2,520
2014: 2,506
2013: 2,478
2012: 2,390
2011: 2,295
2010: 2,255
2009: 2,202
2005: 2,235
2000: 2,077

Source: Census Bureau, Characteristics of New Housing

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