Asset Building Program Homeownership and Individual Development Accounts An Assessment of Recent Research

Individual Development Accounts are designed to support savings for the purchase of specific assets, such as buying a home, pursuing post-secondary education, or capitalizing a small business, by matching the deposits of program participants. The concept of matched savings has been promoted as a means to broaden asset ownership among populations missed by current policy. Recently, a study was released evaluating the ten-year impacts of a specific Individual Development Accounts program in Tulsa, Oklahoma focused on increasing homeownership. This paper provides commentary on the findings of this new research, raises questions about the state of homeownership as a means of achieving economic security, and critiques the existing policy tools for supporting low-income families to climb up the economic ladder.