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Consistently positive cash flow, or excess income after all household spending, is critical to achieving financial stability and building wealth, the report argues. However, renters are ...
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.
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.
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 ...
As it enters its 11th year, America's economic expansion is now the longest on record — a streak that has shrunk unemployment, swelled household wealth, revived the housing market and helped ...
While housing equity drove increases in wealth for Black Americans from 2019 to 2022, only 44 percent of Black people own a home. And the wealth gap just keeps getting wider.
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WASHINGTON -- The wealth gap between younger and older Americans has stretched to the widest on record, worsened by a prolonged economic downturn that has wiped out job opportunities for young ...