Saturday, May 19, 2018

The Racial Divide

The wealth gap between white and black Americans is widening: Black families now have 10 times less wealth than whites. 

Homeownership among white Americans is more than 30 percentage points higher than among black Americans. African-Americans and Latinos were far more likely to be denied conventional mortgages than whites, even when income, loan size and other factors were taken into account.

The fact that so many more whites own their homes is one of the reasons why white median family net worth is nearly ten times that of African-American families.

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