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The racial wealth gap could be reduced by 10% over three generations if Black households wrote wills at the same rate as white ones, according to a recent study.
But homeownership remains out of reach for a majority of Black Americans. The homeownership rate gap between Black and white Americans was the same in 2020 as it was in 1970 — two years after ...
In fact, according to a 2019 report by McKinsey & Company, the median white family had more than 10 times the wealth of the median Black family in 2016 — and the gap has continued to grow since.
The images displayed are in stark contrast to the economic conditions the average black family is battling each day. [93] According to an article by the Pew Research Center, the median wealth of non-Hispanic black households fell nearly 38% from 2010 to 2013. [94] During that time, the median wealth of those households fell from $16,600 to $13,700.
Avery and Rendall used 1989 SCF data to discover that the mean value in 2002 of white Americans' inheritances was 5.46 times that of African Americans', compared to 3.65 that of current wealth. White Americans received a mean of $28,177 that accounted for 20.7% of their mean wealth while African Americans received a mean of $5,165 that ...
From the ending of legal segregation through the mid-1970s, the black-white wage gap continued to narrow. However, from the mid-1970s until almost 1990, progress in wage equality greatly slowed. [6] From 1968-1979, the black-white wage gap decreased by an average of 1.2 percent each year.
The average wealth gap between white families and Black and Hispanic ones reached a new high in 2022, according to a new report by the Urban Institute.
Her 2021 book, “The Whiteness of Wealth,” explores the ways U.S. tax policy impoverishes Black people and widens the racial wealth gap in multiple ways, including disparities in tax breaks and ...