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Over 60% of all low-income families lived in majority white neighborhoods in 2000. However, this statistic describes the settlement patterns mainly of white low-income people. Black and Hispanic low-income families, the two most racially segregated groups, rarely live in predominantly white or majority-white neighborhoods.
African American and Hispanic mortgage holders are 1.5 to 2.5 times more likely to pay 9% or more on interest. Krivo and Kaufman calculate that the African-American/White gap in mortgage interest rates is 0.39%, which translates to a difference of $5,749 on the median home loan payment of a 30-year mortgage of a $53,882 home.
The wealth gap between Caucasian and African American families substantially increased from $85,000 in 1984 to $236,500 in 2009. Many causes relate to racial inequality such as: Years of home ownership, household income, unemployment, education, lack of upward mobility, and inheritance. [1]
Even if you can afford to live in a 55-plus community, additional fees will have a way of eating into your retirement budget. For example, amenities can total roughly $200 a month, meaning an ...
Protest sign at a housing project in Detroit, 1942. Ghettos in the United States are typically urban neighborhoods perceived as being high in crime and poverty. The origins of these areas are specific to the United States and its laws, which created ghettos through both legislation and private efforts to segregate America for political, economic, social, and ideological reasons: de jure [1 ...
The following median household income data are retrieved from American Community Survey 2021 1-year estimates. In this survey, the nationwide population was 331,893,745 in 2021. [ 2 ] The median household income in 2021 across the general population (all races and ethnicities included) was $69,717.
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