California Asset Building: Latest Articles

With falling home prices, rising food and fuel costs and an unemployment rate well above the national average, the current economic downturn may push already vulnerable California families to the brink of financial destitution. Thousands of people may turn to welfare for support in the coming months. That's OK -- that's the purpose of temporary assistance. It's not as if this is the money-for-nothing welfare of the early 1990s; these folks are required to start looking for work the second… more

“Every time I go to Market Creek with my kids now, they say ‘We own this,’” says Bevelynn Bravo, a mother of four who lives in a struggling San Diego neighborhood known as the Diamond. Bravo recently took part in a first-of-its-kind initial public offering (IPO), purchasing 25 shares in the Market Creek shopping center at $10 per share. Market Creek Plaza’s developer, the Jacobs Center for Neighborhood Innovation (a foundation), had previously partnered with teams of residents to… more

Prime Minister Tony Blair swings through California next week to enjoy some down time with Governor Schwarzenegger and First Lady Maria Shriver. No doubt he’ll want to take a break from a string of bad press in the U.K. Let’s hope he and the Governor find time to talk about one of his quiet but groundbreaking successes that holds great promise for California -- Blair’s new program to give every child a stake in Great Britain’s economic future.

Each British baby… more

Americans can't save. They rank it right up there with -- oh, cleaning out the closet. Recent research confirms that the national savings rate in the United States dipped below zero percent in 2005 and stayed there for the better part of the year. The last time that happened was during the Great Depression.

For most of us to save money, someone else needs to do it for us. That's why so many of us have our employers deduct money… more

New research reveals that California is dead last in bringing home the country's largest resource for working-poor families. By April 17, hundreds of thousands of Californians will miss out on applying for the Earned Income Tax Credit (EITC), a source of sizeable refunds that give a financial boost to those at the low end of the pay scale. Golden State residents leave almost $1 billion in federal funds unapplied for. California families pay a big price when they leave these… more