Study: Wealth gap between whites and blacks has ballooned
A new Brandeis University social sciences study highlights that the wealth gap between white and black people has ballooned in recent decades. The study argues that "the dramatic gap in household wealth that now exists along racial lines in the United States... reflects policies and institutional practices that create different opportunities for whites and African-Americans."
The researchers assessed median household incomes and wealth (what you own minus what you owe) found that "there is no question that the difference in median wealth between America's white and African-American households has grown stunningly large. Via Brandeis' Institute on Assets and Social Policy:
The new study found the wealth gap almost tripled from 1984 to 2009, increasing from $85,000 to $236,500. The median net worth of white households in the study has grown to $265,000 over the 25-year period compared with just $28,500 for black households.