Asset Building for Today's Stability and Tomorrow's Security

New England Community Developments, Issue 2, 2009

9 Pages Posted: 25 Jan 2013

See all articles by Signe-Mary McKernan

Signe-Mary McKernan

The Urban Institute - Center on Labor, Human Services and Population

Caroline E. Ratcliffe

The Urban Institute - Labor and Social Policy Center

Date Written: December 1, 2009

Abstract

Today's weak economy, highlighted by job layoffs, high unemployment, and limited lines of credit, underscores the need for families to have savings to draw on during an emergency. Yet, the majority of low-income families have too few assets to weather emergencies. Even prior to the current recession, 57 percent of low-income families were liquid asset poor. This article discusses low-income families' asset holdings and promising policies aimed at addressing their short- and long-term needs. The package of proposals addresses the needs of families over the life course and considers the tension inherent in meeting families' short- and long-term asset-building goals.

Keywords: Economy/Taxes, Families and Parenting, Housing, Poverty and Safety Net

Suggested Citation

McKernan, Signe-Mary and Ratcliffe, Caroline E., Asset Building for Today's Stability and Tomorrow's Security (December 1, 2009). New England Community Developments, Issue 2, 2009. Available at SSRN: https://ssrn.com/abstract=2205912

Signe-Mary McKernan (Contact Author)

The Urban Institute - Center on Labor, Human Services and Population ( email )

United States

Caroline E. Ratcliffe

The Urban Institute - Labor and Social Policy Center ( email )

2100 M Street, NW
Washington, DC 20037
United States
202-261-5548 (Phone)
202-463-8522 (Fax)

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