Asset Building as a Community Revitalization Strategy

Abstract

Asset building is helping impoverished families save for education, home ownership, microenterprise, and other community revitalization purposes. These community development programs are built in part on the idea that assets have multiple positive effects on well-being. A system of individual development accounts is often used to structure and subsidize asset accumulation. Studies that evaluate the implementation, performance, and effects of asset building will be critical in assessing the potential of community development based on special savings accounts. This article summarizes findings from studies addressing the effects of assets on personal well-being, economic security, civic behavior, women's status, and children's well-being. Implications for demonstration and evaluation of asset-based community revitalization initiatives are discussed.