White Americans Are A Record 20 Times Wealthier Than Black Americans

pew race wealth

Photo: Pew Research centre

The wealth gap between white and black Americans is the widest it has been in the 25 years since the government has kept figures on net worth.The median net worth of a white household was $113,149 in 2009. The same figure for black households is only $5,677.

Not only is the gap terrifyingly wide, it is also getting worse. The recession and housing crash took a much greater toll on blacks and Hispanics.

The Pew Research centre crunched data from an economic questionnaire in the 2010 Census, the most comprehensive data available on wealth and race.  The data here shatters any illusion of racial equality in this country. 

In 2005, the wealth gap between whites and other groups was not as bad as it was in 2009, but it was still very wide

Whites lost much less than blacks and Hispanics in the recession

The ratio between white and Hispanic median wealth more than doubled in just five years

Asians used to have a higher median net worth than whites, but their wealth has also fallen substantially

Home equity is clearly the main driver of the decrease in median wealth for all groups

More than one third of black households have no wealth at all

Hispanic households lost the most of any group in real estate

Black households lost 71% of their wealth in stocks and mutual funds

Whites only lost 9% from stocks and mutual funds. Whites fell too, but not nearly as hard

Wealth disparity within racial groups is getting worse for everyone, but it's worse for non-whites. Nearly three fourths of Hispanic wealth in the United states is held by the top 10 per cent of Hispanic households

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