Fostering Low‐Income Homeownership through Individual Development Accounts: A Longitudinal, Randomized Experiment

Grinstein‐Weiss, Michal; Lee, Jung-Sook; Greeson, Johanna K.P.; Han, Chang‐Keun; Yeo, Yeong H.; Irish, Kate

doi:10.1080/10511482.2008.9521653

Cited by 35 publications

(34 citation statements)

References 32 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…A question that arises from this research is, “Why does the financial education and training offered in the IDA program not decrease food insecurity?” Several studies have now documented the failure of the IDA program to produce the expected long‐term effects on participants' asset building (i.e., Grinstein‐Weiss et al 2013a, 2013b, 10 years later), but shorter‐term follow‐ups are typically documenting beneficial effects of IDAs on participants' financial situation (Birkenmaier, Curley, and Kelly ; Grinstein‐Weiss et al ; Rothwell and Sultana ). Our study adds to this literature the finding that food insecurity is relatively high across the entire sample of survey respondents.…”

Section: Discussionmentioning

confidence: 99%

“…A randomized assignment of study participants into the IDA program was implemented. Shorter‐term results were encouraging, showing that the treatment group had more financial assets, better savings motivation, and behavior (Grinstein‐Weiss, Chowa, and Casalotti ; Grinstein‐Weiss et al ; Huang ; Lombe, Nebbitt, and Buerlein ). The long‐term results, however, were disappointing.…”

Section: Literature Reviewmentioning

confidence: 99%

See 1 more Smart Citation

Connecting Saving and Food Security: Evidence from an Asset‐Building Program for Families in Poverty

Loibl¹,

Snyder²,

Mountain³

2016

Journal of Consumer Affairs

View full text Add to dashboard Cite

This study examines food insecurity among children of participants in a federally funded savings program in the United States, the Individual Development Account (IDA) program. We measure child food insecurity of savings program families by using the eight questions of the Current Population Survey's Food Security Supplement. About 39.4% of savings program families report food insecurity. No differences in children's food hardship between current and past program participants were identified. Examining predictors, propensity to plan for money tend to be associated with higher odds of children's food insecurity. By contrast, frugal behavior, lower material deprivation, and higher subjective well‐being tend to reduce the odds of children's food insecurity. Findings also confirm previous literature on the association of alternative financial services and higher food insecurity among children.

show abstract

Section: Discussionmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

Connecting Saving and Food Security: Evidence from an Asset‐Building Program for Families in Poverty

Loibl¹,

Snyder²,

Mountain³

2016

Journal of Consumer Affairs

View full text Add to dashboard Cite

show abstract

“…Participants were more likely to make deposits for homeownership than for retirement and there was a stronger incentive for withdrawing the funds for homeownership compared to retirement (Grinstein-Weiss et al, 2013). In the third and final wave of the program, participants in the experimental group had higher homeownership rates compared to the control group (Grinstein-Weiss et al, 2008;Mills et al, 2008). In the 10-year follow-up examination, however, the control group had caught up to the experimental group in participants' homeownership rates (Grinstein-Weiss et al, 2013).…”

Section: Downloaded By [Rutgers University] At 03:22 04 October 2015mentioning

confidence: 98%

“…Using data from the first 4 years of the Tulsa experiment, Grinstein-Weiss et al (2008) and Mills et al (2008) show that the Tulsa program had a positive effect on homeownership rates as of 2003. However, using data from the 10-year follow-up, Grinstein-Weiss et al (2013) showed that the homeownership effect declined rapidly after the program ended in 2003 and that the longer-term (as of 2009) effects on homeownership rates were close to zero and not statistically significant.…”

Section: Introductionmentioning

confidence: 99%

Effects of an Individual Development Account Program on Retirement Saving: Follow-up Evidence From a Randomized Experiment

Grinstein‐Weiss

Sherraden

Gale

et al. 2015

Journal of Gerontological Social Work

View full text Add to dashboard Cite

We examine the 10-year follow-up effects on retirement saving of an individual development account (IDA) program using data from a randomized experiment that ran from 1998 to 2003 in Tulsa, Oklahoma. The IDA program included financial education, encouragement to save, and matching funds for several qualified uses of the saving, including contributions to retirement accounts. The results indicate that as of 2009, 6 years after the program ended, the IDA program had no impact on the propensity to hold a retirement account, the account balance, or the sufficiency of retirement balances to meet retirement expenses.

show abstract

“…Other ADD studies find that IDA program participation had no effect on homeownership rates among renters at 18 months, but these rates increased at 48 months (Grinstein-Weiss et al 2008;Mills et al 2008b) and faded after ten years (Grinstein-Weiss et al 2013).…”

mentioning

confidence: 91%

First‐Year Impacts on Savings and Economic Well‐Being from the Assets for Independence Program Randomized Evaluation

Mills¹,

McKernan²,

Ratcliffe³

et al. 2019

Journal of Consumer Affairs

View full text Add to dashboard Cite

Individual development accounts (IDAs) help low‐income families save by providing a savings account and a potential match toward personal savings for specific investments, such as a first home, business capitalization, or postsecondary education and training. The Assets for Independence (AFI) program uses AFI IDAs—commonly coupled with financial education—with the goal of helping low‐income households achieve greater self‐sufficiency. Using a randomized controlled trial, we evaluate the impact of AFI after one year and find that the median level of liquid assets was $657 higher for the treatment group than the control group (before matching funds). We also find that the treatment (vs control) group experienced less material hardship (by 34%) and was less likely to use nonbank check‐cashing services (by 39%).

show abstract

Fostering Low‐Income Homeownership through Individual Development Accounts: A Longitudinal, Randomized Experiment

Cited by 35 publications

References 32 publications

Connecting Saving and Food Security: Evidence from an Asset‐Building Program for Families in Poverty

Connecting Saving and Food Security: Evidence from an Asset‐Building Program for Families in Poverty

Effects of an Individual Development Account Program on Retirement Saving: Follow-up Evidence From a Randomized Experiment

First‐Year Impacts on Savings and Economic Well‐Being from the Assets for Independence Program Randomized Evaluation

Contact Info

Product

Resources

About