Paper
March 4, 2011, William G. Gale, Michal Grinstein-Weiss, Clinton Key, William M. Rohe, Mark Schreiner and Michael Sherraden
With the housing market still recovering from the subprime crisis, a key question for policymakers is how and whether to encourage homeownership and the role of down payments in the initial homeowner purchase. A new research paper co-authored by William Gale finds that Individual Development Accounts programs for low-income households, designed to help teach financial education and provide matching funds for qualified savings withdrawals, had no significant effect on homeownership rates after 10 years of implementation. Read More ›