Texas Receives "F" in Financial Stability

Our Grade Is In: Texas Receives "F" in Financial Stability

When it comes to our ability to achieve financial success, Texas residents are falling behind the rest of the country, according to a report released today by the national Corporation for Enterprise Development (CFED). According to the 2007-2008 Assets and Opportunity Scorecard, Texas was just one of five states that earned an "F" based on poor performance in the following areas: Financial Security, Business Development, Homeownership, Health Care, and Education.

The report finds that Texans have among the nation's lowest rates of household net worth (45th); home ownership (44th overall); and savings (42nd in interest-bearing accounts) and among the highest uninsured rates (49th in employer-sponsored insurance and 51st in low-income children and parents without insurance). Texans are also far more likely to use high-cost lending products (ranking 43rd in subprime loans). Learn more at http://www.cppp.org/research.php?aid=709.



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