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Pew study: There’s a massive wealth gap along racial lines

  • $113,149 average net worth of a white household in 2009
  • $5,677 average net worth of a black household in 2009 source

» That is a stark difference. In their latest study, Pew compared the net wealth of families in various racial groups and found that blacks and Latinos in particular did very poorly compared to whites. (Asians, on the other hand, were somewhat within shouting distance. EDIT: Please see explanation.) This is a historic trend which has lasted decades, but has become all the more apparent with the Great Recession. “The bursting of the housing market bubble in 2006 and the recession that followed from late 2007 to mid-2009 took a far greater toll on the wealth of minorities than whites,” Pew writes in its study. While net wealth among whites fell roughly 16 percent, blacks families lost about 53 percent, and Latino families lost the most — losing 66 percent of their wealth on average.

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July 27, 2011 // 14:43 // 2 years ago
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44 notes from really cool Tumblrs like ours. Click to read.

  1. sanfranciscojewelers reblogged this from shortformblog
  2. virtualdespot reblogged this from shortformblog
  3. holden421 reblogged this from shortformblog
  4. payattentionnow reblogged this from shortformblog and added:
    Stark reality.
  5. transient-dreamer reblogged this from shortformblog and added:
    **With no reference to what causes such wealth disparity along racial lines. Lol Political blog without the politics.
  6. candlerami reblogged this from shortformblog and added:
    $113,149 average net worth of a white household in 2009 $5,677 average net worth of a black household in 2009 source »...
  7. afancy400 reblogged this from shortformblog
  8. digestivepyrotechnics reblogged this from shortformblog
  9. swagandpassion reblogged this from shortformblog
  10. skyghe reblogged this from shortformblog and added:
    This is pathetic. Sigh. Can we start over yet?
  11. nickrecommends reblogged this from shortformblog
  12. thesoupofthedayiswhiskey reblogged this from shortformblog
  13. janespoon said: This study showed a 54% decline in Asian American households. (A 53%, decline in African American households, Hispanic households a 66% decline, and white households by 16%). Is the Asian/Asian American household drop within a shouting distance??
  14. amantedelletigri reblogged this from shortformblog
  15. shortformblog posted this