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In comparison, the bottom 50% held around $51,000 on average per household, adding up to just 2.5% of the total household wealth. There’s a major racial wealth gap as well, with Black and ...
In today's complex money world, younger people face big challenges in building a secure financial future. Gen Z and millennials often encounter unique obstacles on their path to wealth. See: 7 ...
Homeownership has long been known as a tool for building wealth and lifting Americans into the middle class. But a new report highlights other ways in which renting burdens many households ...
The wealth gap between rich millennials and the rest of their age group is the largest of any generation, creating a new wave of class tension and resentment, according to a recent study.. Even as ...
A December 2011 Gallup poll found a decline in the number of Americans who rated reducing the gap in income and wealth between the rich and the poor as extremely or very important (21 percent of Republicans, 43 percent of independents, and 72 percent of Democrats). [191] Only 45% see the gap as in need of fixing, while 52% do not.
This, he says, has caused the wealth gap with many people barely getting by while others thrive. “It was an agrarian economy a couple hundred years ago,” he said in an interview with CNN.
But this fail-safe, like all the others, isn’t equally available to everyone. The wealth gap between white and non-white families is massive. Since basically forever, almost every avenue of wealth creation—higher education, homeownership, access to credit—has been denied to minorities through discrimination both obvious and invisible.
However, the wealth gap has only widened. In 2022, the Urban Institute reported the average Black household had roughly $211,000 in wealth, while the average Hispanic household had roughly $227,544.