[Marvin]

The Racial Wealth Gap: Why A Typical White Household Has 16 Times The Wealth Of A Black One

The United States is becoming much more racially and ethnically diverse. At the same time, it’s becoming more unequal in terms of wealth and income. These two trends are combining in an uncomfortable way: the wealth and income divide is happening along racial and ethnic lines.

The typical black household now has just 6% of the wealth of the typical white household; the typical Latino household has just 8%, according to a recent study called The Racial Wealth Gap: Why Policy Matters, by Demos, a public policy organization promoting democracy and equality, and the Institute on Assets and Social Policy.

In absolute terms, the median white household had $111,146 in wealth holdings in 2011, compared to $7,113 for the median black household and $8,348 for the median Latino household. (All figures come from the U.S. Census Bureau Survey of Income and Program Participation.)

This is what is called the racial wealth gap.

Here are the three main factors driving the income gap between white households and black and Hispanic ones.

1. Homeownership



2. Education



3. Labor Markets

Article | Study

Racism doesn't exist anymore!

[StammyWammy]

What about Asian Americans? We're always excluded like we don't exist

[Dessy Fenix]

#Facts

[Blue Jeans]

Originally posted by StammyWammy

What about Asian Americans? We're always excluded like we don't exist

Ikr As if white people are the richest. Asian Americans earn big money and are very well-educated (at least in my state)

[Mekitor]

Of course this is not new information. I am currently looking for a White Rich Daddy! I have already found 2 potential daddies here in NYC.

[Jonathan]

[ToLove]

So Latinos are typically poorer than black people? Funny how the media never addresses that.

[Marvin]

Originally posted by Blue Jeans

Ikr As if white people are the richest. Asian Americans earn big money and are very well-educated (at least in my state)

They might have a higher income (which they do) but that does not make them wealthier. How many Asian billionaires are there compared to white ones?

And Asian Americans were not included in the study by the way.

[LoKoPaNdA]

Fix it, Bernie

[OnikaChrist]

WTF how is a white person 16x more richer than a black person?

LORD.. Thank god I live in Canada and we're all very accepting of each other. I don't think I could live in America.

[JonginBey]

Originally posted by OnikaChrist

WTF how is a white person 16x more richer than a black person?

LORD.. Thank god I live in Canada and we're all very accepting of each other. I don't think I could live in America.

Adopt me

[Flanders]

This is obviously no surprise, american society was built by white people, and is still owned and governed by mostly white people. There won't be equal standing between the races for several generations, I think. Power and money runs in families

[ABEL-o-matic]

Originally posted by Marvin

They might have a higher income (which they do) but that does not make them wealthier. How many Asian billionaires are there compared to white ones?

And Asian Americans were not included in the study by the way.

China is home to more billionaires than any country in the world. They have no reason to set foot in the U.S

[freebitch26]

why though? You can't look at it without any context.

[Marvin]

Originally posted by ABEL-o-matic

China is home to more billionaires than any country in the world. They have no reason to set foot in the U.S

I was obviously talking about Asian-American billionaires.

[RatedG²]

My poor latino brothers and sisters

[Saintlor]

Originally posted by Flanders

This is obviously no surprise, american society was built by white people, and is still owned and governed by mostly white people. There won't be equal standing between the races for several generations, I think. Power and money runs in families

You act as if there aren't any poor/homeless white people in America

[Dessy Fenix]

Originally posted by Saintlor

You act as if there aren't any poor/homeless white people in America

He ain't saying that at all

[freebitch26]

Originally posted by RatedG²

My poor latino brothers and sisters

me and my family are doing good thanks

[Joyride]

Originally posted by Saintlor

You act as if there aren't any poor/homeless white people in America

what