A water-base resin has both excellent storage stability and excellent curability at room temperature, the water base resin being obtained by mixing a composite resin (C) and a polysiloxane (D), bringing about a condensation reaction partially between them if necessary, and thereafter dispersing or dissolving the resulting mixture or partially condensed product into a water-base medium, wherein the composite resin (C) comprises a polysiloxane segment (A) and a polymer segment (B), the polysiloxane segment (A) having at least one silicon atom selected from the group consisting of a silicon atom bearing at least one organic group having a total carbon number of at least 3 together with at least one hydrolyzable group and/or at least one hydroxyl group, a silicon atom bearing one hydrolyzable group or one hydroxyl group together with two groups selected from the group consisting of methyl groups and ethyl groups, and a silicon atom bearing at least one triorganosiloxy group together with at least one hydrolyzable group and/or at least one hydroxyl group, and the polymer segment (B) having at least one type of hydrophilic group selected from the group consisting of an anionic group, a cationic group, and a non-ionic group, and wherein the polysiloxane (D) has a hydrolyzable group bonded to a silicon atom and/or a hydroxyl group bonded to a silicon atom, the polysiloxane (D) having a structure represented by the following structural formula (S-I) as an essential structural unit:(wherein R1 in the formula denotes a methyl group or an ethyl group). A water-base curable resin composition comprising the water-base resin as an essential component produces a cured material which possesses excellent resistance stain during outdoor exposure as well as excellent durability such as acid rain resistance and gloss retention during outdoor exposure.