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I didn't realize I was even subscribed to wherever-this-came-from, but it  
just came in.
 
I have no idea how viable the figures are.
 
Sandy
Mid-Mojave
 
 
  
____________________________________
 From: ECronen AT urban.org
To: ECronen AT urban.org
Sent: 12/9/2008 9:25:23  A.M. Pacific Standard Time
Subj: Urban Institute Fact Sheet: U.S.  Households and Their Assets




THE  URBAN INSTITUTE  Fact  Sheet

Office  of Public Affairs, 2100 M STREET NW, WASHINGTON, D.C.  20037     
(202) 261-5709; paffairs AT urban.org 


A QUICK LOOK AT U.S.  HOUSEHOLDS AND THEIR ASSETS 
Source: Asset Building and Low-Income Families, edited by  Signe-Mary 
McKernan and Michael Sherraden, Urban Institute Press, 2008.  Unless 
otherwise 
indicated, all statistics are for  2004. 
Most  common financial assets in the United States: checking and savings  
accounts 
Percentage of all families with a checking or savings  account: 91 
Percentage of families in bottom-fifth income ranking  with a checking or 
savings account: 76 
Median dollars in these accounts, all families:  3,800 
Median dollars in these accounts, bottom-fifth  families: 600 
Most  valuable financial asset in the United States: a retirement  account 
Percentage of all families with a retirement account:  50 
Percentage of bottom-fifth families with a retirement  account: 10 
Median dollars in these accounts, all families:  35,200 
Median dollars in these accounts, bottom-fifth  families: 5,000 
Most  common nonfinancial asset in the United States: a  car 
Percentage of all families with a car:  86 
Percentage of bottom-fifth families with a car:  65 
Most  valuable nonfinancial asset in the United States: a home (any kind of  
dwelling) 
Percentage of all families that own a home:  69 
Percentage of bottom-fifth families that own a home:  40 
Median dollar value of home, all families:  160,000 
Median dollar value of home, bottom-fifth families:  70,000 
Median total debt, in dollars, held by homeowners:  95,800 
Median total debt, in dollars, held by home renters:  7,800  
Percentage of all families with debt greater than 40%  of income: 12 
Percentage of bottom-fifth families with debt greater  than 40% of income: 27 
Median net worth, in dollars, of bottom-fifth  families: 7,500 
Median net worth, in dollars, of middle-fifth  families: 71,600 
Median net worth, in dollars, of top-fifth families:  617,600 
Growth in median net worth of bottom-fifth families,  1992–2004: 44% ($2,300) 
Growth in median net worth of top-fifth families,  1992–2004: 94% ($298,500) 
Percentage of asset-poor families1 in 1984  still so in 1994: more than 60 
Percentage of income-poor families in 1984 still so in  1994: 42 
Total  assets of families in lowest income quintile compared to middle fifth’
s:  1:9 
Total  assets of families in lowest income quintile compared to top fifth’s:  
1:48 
Average assets, in dollars, of families headed by one  adult: 83,400 
Average assets, in dollars, of families with married  or cohabitating adults: 
265,800 
Percentage of bottom-fifth dads whose sons remain in  bottom fifth when they 
grow up: 42 
Percentage of top-fifth dads whose sons fell to the  bottom fifth: 5 
Percentage of bottom-fifth sons who reached the top  fifth: 5 
Federal tax breaks, in dollars, subsidizing assets  (fiscal 2008 estimate): 
407 billion 
Percentage of subsidies going to top-fifth families  (fiscal 2005): nearly 90 
Percentage of subsidies going to bottom three-fifth  families (fiscal 2005): 
less than 3 
Potential way to include low-income families in  savings incentives: replace 
tax deductions (e.g., for mortgage interest) with  refundable tax credits 
1A family is asset poor if it does  not have enough to live on for three 
months at the federal income poverty  level. 



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