Listen: Frogflix (Season 2): Episode 9

first_imgTwitter print World Oceans Day shines spotlight on marine plastic pollution Facebook Andrew Van Heusden Andrew Van Heusden is a senior journalism and film-television-digital media major from Brighton, Michigan. He is looking forward to being the digital producer this semester for TCU Student Media. He claims to live in Moudy South throughout the weekdays; but if you can’t find him there, then be sure to try the local movie theaters or the Amon G. Carter Stadium. Andrew Van Heusden + posts Andrew Van Heusden ReddIt Andrew Van Heusden Listen: Ball Don’t Lie: Parting Shots Facebook Linkedin Andrew Van Heusden TCU places second in the National Student Advertising Competition, the highest in school history Listen: Frogflix (Season 2): Episode 13 Listen: Frogflix (Season 2): Episode 14 Previous articleThe Skiff: March 28, 2019Next articleLodolo stays hot as No. 19 baseball tops Oklahoma State, 7-4 Andrew Van Heusden RELATED ARTICLESMORE FROM AUTHOR ReddIt Twitter Andrew, Richard and Michelle kick off a new episode of Frogflix discussing Netflix, A24 and “Scary Stories to Tell in the Dark.” The hosts continue to talk about “Us” and other films to watch out for in April. Linkedin Listen: Frogflix (Season 2): Episode 15 – Parts 1 & 2 Welcome TCU Class of 2025last_img read more

COVID-19 Exacerbates Low-Income Households’ Cost Burdens

first_imgHome / Daily Dose / COVID-19 Exacerbates Low-Income Households’ Cost Burdens  Print This Post The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago COVID-19 is having an especially pronounced impact on the affordability of housing among low-income individuals, according to a survey from Harvard University’s Joint Center for Housing Studies.The newly released American Community Survey shows an ongoing downshift in cost burdens in 2019. While the share of all cost-burdened homeowners–which are those spending more than 30% of their income for housing fell significantly in the decade preceding COVID-19, the cost burdens for low-income homeowners fell only slightly. A particular concern induced by these longer-term trends: since the onset of the pandemic, it’s considerably more likely for low-income households to have lost jobs or had their work curtailed.In 2019, the overall cost burden rate for homeowners nosedived, dropping from 30% to 21% since 2010. That marked the lowest levels since 2000. Higher-income cost burdens receded by more than half while low-income households didn’t fare quite as well, with declines in that category dropping off only slightly.Larger bounces in incomes and declines in monthly cost among high-income homeowners compared to low-income homeowners are significantly fueling the unequal distribution of the decelerating cost. There also were wide disparities in the age, race, education, and location of low-income homeowners, according to the data. Data shows that low-income homeowners are “more likely to be older, live in the South, be people of color,” and less likely to have a college education.Homeowners of color with household incomes dipping below $30,000 were disproportionately impacted by COVID-19 challenges. 27% of Native American homeowners had household incomes under $30,000 compared to 22% of Black homeowners and 16% of Hispanic homeowners. The Harvard survey also reports that “cost-burdened households are more likely to be low-income and work retail and service jobs,” which not only puts them at higher risk of exposure to COVID-19 but also makes them more vulnerable to losing their jobs or having reduced hours due to the pandemic.Then there’s the age card. Low-income homeowners are significantly more likely to be at least 65. Last year, 55% of housing with incomes of less than $30,000 also fell under that category while only 22% of homeowners earning at least $75,000 were a minimum of 65. On the other hand, the degree of cost burden wasn’t as harsh among older households; the duress among homeowners at least 65 dipped by 4% from 2010-2019. Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago COVID-19 Exacerbates Low-Income Households’ Cost Burdens Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, News Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribe Previous: Shumate Tapped to Oversee Title Support at SLK Global Next: Paladino to Lead North America Structured Finance at Fitch Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Chuck Green The Week Ahead: Nearing the Forbearance Exit 2 days ago November 25, 2020 984 Views Chuck Green has contributed to the Wall Street Journal, Washington Post, Los Angeles Times, San Francisco Chronicle, Chicago Tribune and others covering various industries, including real estate, business and banking, technology, and sports. Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago 2020-11-25 Cristin Espinosa Demand Propels Home Prices Upward 2 days agolast_img read more

The SPECS model: Part 5

first_imgSPECS is a business model designed as a guide to fuel organizational innovation and relevance. The model is especially pertinent today, during COVID-19 and beyond, as relevant distinction is essential for survival. Each letter of the acronym represents a key component to incorporate into business decisions and strategies. GCS (Goldman Consulting & Strategy) has written an individual article for each, the last of which follows: SecurityTo review, GCS notes the SPECS, the five components leaders must consider in driving and maintaining relevance and distinction in the marketplace based on years of qualitative and quantitative consumer research. The SPECS reflect:The needed specifications to engage consumers and earn their loyalty.As glasses, the consumers’ lens and perspective.As an acronym, the needed balance between technology and the personal touch.SPECS provides the structure with which to enhance differentiation and value beyond price. Innovating around the SPECS will help organizations enrich the user experience and drive greater consumer engagement.So, what are the SPECS?Speed,Personalization,Ease,Control, andSecurityHere’s a quick refresher on the first four:S= Speed. The essential service component for today’s consumer. Technology has allowed the consumer to essentially access whatever they want, whenever they want. Providersneed to consider speed in current experiences and especially when implementing new products and services.P= Personalization. Today’s consumer expects customization to their unique wants and needs, and also the ability to personalize products and services to their individualized specifications. Generic marketing and services? So yesterday.E= Ease. Consumers’ desire a friction-free, pain-free, and even thought-free journey. Accessible; consistent; predictable; even fun. Journey mapping was built for ease and pain point analysis in particular. Alerts, simple applications and notifications all serve to reduce complexity, thankfully providing the consumer with one less thing to think about.C= Control provides the tools, systems and processes that give the consumer greater power, options, and well, control. Options for budget tracking, financial management and access, and communication preferences all empower consumers to feel more empowered over their financial lives. Incorporating the SPECS components into services and strategies moving forward will help you engage consumers, maintain relevance and encourage loyalty development.S = SecurityAs the final component to the SPECS model, Security is the anchor to which the other SPECS components are fastened. Security (including personal and technological safety and privacy), has long been an essential financial institution attribute for consumers. Today’s high-tech economy makes this issue more relevant than ever. Protections against fraud, breaches, and identity-theft resonate. Security is also important for the reputation (and cost controls) of your institution as well. With COVID-19, we must now add the additional burden of the personal health and safety of employees and members in our requirements for security.Security means being the financial institution that the member never has to think about. Protecting the consumer by providing all services with security at the forefront provides peace of mind and influences the perception of trust. Services such as the ability to control debit and credit access with digital card controls should a card be lost or stolen; proactive recognition and contact by the financial institution in handling suspected fraud (with Speed an essential component here as well); and the ability to access a support center for fraud, potential identity theft or problem resolution after hours, are all ways to provide security to consumers. Examples include Capital One offering customers tips and advice on how to detect fraud; or Discover Card offering a monitoring service for new account openings and searching the Dark Web for personal information on your behalf.The GCS philosophy of proactive altruism applies well here too and refers to the concept of an organization making the right choice for the consumer without regard for gain or profit. Simply stated, it means putting the consumers’ financial, safety and soundness needs first – regardless of provider — with the end result being the enhancement of trust.Security also means physical safety. Like ATM safety, or in-branch safety. In-branch safety has been taken to a higher level during the pandemic placing a new emphasis on the importance of sound safety and security procedures within the branches. Additionally, many members do enjoy access to 7/11 stores as part of the Co-Op Network, but when discussed in virtually every focus group we conduct, someone inevitably adds, “But I don’t feel safe using one.”Enhanced safety features such as biometric log-in and the Apple credit card, designed with security at the forefront with no identifying account numbers displayed on the card, further underscore the importance and desire consumers have for personal security and safety. Companies that provide consumers with secure, innovative products and services gain engagement and further heighten consumer expectations of security offered by their financial institutions.The importance of security and trust go far beyond financial services. In today’s world of cybercrime, fake news, and COVID-19, safety and trust are hot topics. One online book publishing service offers a Trustpilot “trustscore” rating created from its online reviews. Smartphones offer features such as monitoring your steps, your heart rate and your sleep patterns as a form of personal health protection. Today’s Apple watch goes so far as to provide fall detection and an emergency SOS notice. Social media settings offer a range of privacy settings (and this also falls under Control, as these selections are user-defined, as well as Personalization through customization of preferences). And, the variety of home security services and virtual doorbells with remote camera monitoring is endless. These products, to name a few, underscore that keeping security at the forefront is vital to the consumer.Businesses offering services that protect the consumer are appreciated and noteworthy. To consumers, money is personal. And as one focus group participant said, “Protect it like you’d protect your family, and I’ll be with you for life.” Dr. Neil Goldman is Senior Partner of Goldman Consulting & Strategy (GCS, Inc.), an organizational development and marketing research firm founded in 2002, working primarily with credit unions. He also … Web: Details ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Neil Goldmanlast_img read more