Brief Portraits of the Assets and Liabilities of Low-Income Families
Adam Carasso, Signe-Mary McKernan
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Nearly one quarter of low-income families do not have a checking or savings account, more than one-third do not own cars, 60 percent do not own a home, and 90 percent have no retirement account. In contrast, the typical middle-income family has checking or savings accounts, retirement accounts, owns a car and a home. This brief synthesizes current research on the assets and liabilities of low-income families into a variety of portraits and provides suggestions for future research and policy.
Research Areas Economic mobility and inequality Families Race and equity Housing
Tags Federal housing programs and policies Economic well-being Racial and ethnic disparities Family structure Income and wealth distribution Racial inequities in economic mobility Racial wealth gap