Whites have 12 times the wealth of blacks
Source: CNN Money
The typical white family had accumulated more than $134,200 in wealth in 2013, while black families scraped together a little more than $11,000 and Hispanic families $13,700, according to a new Urban Institute report.
It's yet another example of how financial inequality is pervading this country and it's is only getting worse. Whites now have 12 times the wealth of blacks and nearly 10 times more than Hispanics. But in 1995, the spread was only 7 times for blacks and 6 times for Hispanics.
"The American Dream remains out of reach for many African-American and Hispanic families," said Signe-Mary McKernan, co-director of the Opportunity and Ownership Initiative at the Urban Institute. "Families of color, who will be the future majority population of this country, are not on a firm wealth-building path."
Read more: http://money.cnn.com/2015/02/18/news/economy/wealth-blacks-whites-hispanics/index.html?iid=HP_LN
Android3.14
(5,402 posts)The article doesn't say. If median, then this would be of greater concern. If it is average wealth, then the mega wealthy are skewing the results. I know that, as a Caucasian, I don't have anything like that kind of wealth.
I'd also like to know how big a population they sampled. The article mentions the sample size was too small for part of the Hispanic data.
Travis_0004
(5,417 posts)Once you figure in equity in your home and 401k value etc. I would guess Im only have about 80k, but Im 30. A lot of older adults have 130k equity in their house.
Gormy Cuss
(30,884 posts)The data appear to be from a variety of Federal general population survey panels.
progree
(10,864 posts)Chart 3 gives you a choice -- you can click on Median or Average
http://datatools.urban.org/Features/wealth-inequality-charts/