White Americans Have 22 Times More Wealth Than Blacks

income inequality

Photo: U.S. Census Bureau

White Americans now have 22 times more wealth than black Americans because of the Great Recession, reports Tami Luhby of CNN Money. In 2010 the median household net worth for whites was at $110,729 compared with $4,995 for blacks. 

The disparity was similar in respect to Hispanics, who had a median household net worth of $7,424.

The median household net worth of non-whites fell 60 per cent between 2005 and 2010, compared to a 23 per cent slip for white households.

Blacks and Hispanics suffered more during the downturn because home equity makes up more of their wealth, according to Luhby.

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