Friday, May 14, 2010

Housing & Homeownership Grades: How is your state faring?



I came across this great resource, the Assets & Opportunity Scorecard, put out by CFED. The scorecard measures the financial security of families in the United States by looking beyond just income to the whole picture of building ownership and protecting against financial setbacks. The Scorecard ranks the 50 states and the District of Columbia on 58 performance measures in the areas of Financial Assets & Income, Businesses & Jobs, Housing & Homeownership, Health Care and Education. The Housing & Homeownership information is worth a look. It is filled with great information, by state, on outcome and policy measures.


In the 2009-2010 scorecard, Minnesota scores a "C" in Housing & Homeownership and an "A" overall primarily due to its excellence in education. However, CFED staff note that the state’s relatively high performance in homeownership, health care and asset development compared to other states masks serious discrepancies where minorities and low‐income families are concerned. The Scorecard serves as an important reminder during this when the public resources for education, housing and health care are on the chopping block.


About CFED:


CFED is a multi-faceted organization working at the local, state and federal levels to create economic opportunity that alleviates poverty. CFED believes it is possible and profitable – within a generation – to provide every American, including every child at birth, the opportunity and resources to pursue higher education, start a business, buy a home and save for the future by:
  • Providing a reasonable public incentive to every person to save for the future, including every child, starting at birth.
  • Ensuring that every family who desires to own a home has the opportunity to do so.
  • Providing every person who wants to start a business with the opportunity to access entrepreneurial training and financial resources to generate income and create jobs.

 

1 comments:

  1. Hi Kim, This is an interesting resource, but I always get a little nervous when anyone equates "homeownership rate" directly with "success" in housing.

    The degree to which homeownershp rates are bolstered by government subsidy, in addition to the exposure of both overextended credit and lack of financial literacy at the start of the housing crisis could suggest that homeownership is not necessarily the best situation for every prospective buyer at every stage of their life.

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