Here’s what the racial wealth gap in America looks like today: by theothersarahh
That’s the portion of black homeowners who didn’t pay or deferred their mortgage payment in May, during the depths of the covid-19 crisis, compared with just 9% for white homeowners, according to the Urban Institute’sThat’s the percentage of black respondents who said they had money in the stock market, according to a
. The rate was 60% for white respondents. Investing in the stock market is one of many ways families compound their wealth. from Boston College’s Center for Retirement research, the typical black household had just 46% of the retirement wealth of a typical white household in 2016. The study notes that the gap would be much larger if it weren’t for the value of Social Security benefits households have earned and are expected to receive.
University of California, Santa Cruz economist Robert Fairlie. Among white businesses, just 1 out of 5 was forced to close.
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