Individual Wealth Preservation

The Homeownership Gap

Andrew Haughwout, Richard Peach and Joseph Tracy
Current Issues in Economics and Finance, volume 16, number 3

Capital IDEA

Capital IDEA is committed to lifting adults out of poverty and into living wage careers.  To do so, it provides the financial and emotional support that non-traditional adult students need to succeed in college and ultimately reach self-sufficiency.  Since its establishment in 1998, Capital IDEA has helped over 1,000 low-income adults in Central Texas.  In 2014 alone, the nonprofit served 825 low-income adults by fully funding tuition, fees, and textbooks, assisting with childcare and transportation expenses, and providing intensive career counseling and case management services.

Federal Asset-Building Programs Continue to Favor Wealthy

Missed opportunity to help less well-off Americans build wealth

Copyright New American
Foundation 2012

In its Assets Report 2012, the New America Foundation calculates that more than half a trillion dollars is allocated in the U.S. FY 2013 federal budget through direct spending programs and tax provisions to encourage savings and asset-building. Of that sum, only a small fraction helps those who need it the most, low- and moderate-income Americans.

As Reid Cramer, Rachel Black, and Justin King at the New America Foundation note, this is a lost opportunity:

This approach misses the potential of assets to help chart a path out of poverty. If we are to broaden savings and asset ownership successfully—giving everyone a stake in the common-wealth—we must understand how the federal government’s current policy paradigm affects asset building among low- and moderate-income Americans.

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