Showing posts with label Money. Show all posts
Showing posts with label Money. Show all posts
Friday, September 23, 2011
Tuesday, July 26, 2011
The Wealth Gap Widens Between Whites And Minorities
According to census data recently analyzed by the Pew Research Center, the median net worth of a white family now stands at 20 times that of a black family and 18 times that of a Hispanic family, roughly twice the gap that existed in 1984. The average wealth of white U.S. households in 2009 was $113,149, compared with $6,325 for Hispanics and $5,677 for African Americans, here’s why according to Pew researcher Rakesh Kochhar:
“The bursting of the housing bubble in the great recession has been much harder on minority households than on white households. White households have been more diversified — they are more likely to own stocks and bonds.”
In other non-racial money news, between 2005 and 2009 the wealthiest 10% of households went from owning 49% to 56% of American wealth. Good times for them…Via The Life Files
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