Pew’s financial security and mobility project studies the financial well-being of American families and how their balance sheets relate to both short-term financial stability and longer-term economic mobility. The initiative builds on Pew research that shows savings and assets are key to moving up the economic ladder, both within a lifetime and across generations. The project strives to foster policy debate and action on how best to improve opportunity to ensure that the American Dream is within reach of everyone.
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A new report by The Pew Charitable Trusts, “American Families Face a Growing Rent Burden: High Housing Costs Threaten Financial Security and Put Homeownership Out of Reach for Many,” shows that in the aftermath of the 2007-09 Great Recession, more households are “rent burdened”—that is, spending more than 30 percent of their pretax income on housing—than before... Read More
Nearly 43 million U.S. households rented their homes in 2016, including about 9 million households that wereformed over the preceding decade, according to the Harvard Joint Center for Housing Studies. Demand forrental properties has increased across age and socio-economic groups since 2008. Recent research indicatesthat although some of those increases can be explained by population shifts, a... Read More
There is a growing recognition among Americans that moving up the income ladder in the United States can be challenging: As recently as 2014, only 23 percent of Americans believed that it’s common for someone to start poor, work hard, and become rich, which was down 16 percentage points from just five years earlier. Read More