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
