For every dollar of wealth in the average white family, the typical black family has around one cent.
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What is Racial inequality?</h3>
Northwestern University sociologist Christine Perche ski, who co-authored the study, compared the wealth — assets minus debts — of households with kids for black, white, and Latino families, stating that a family’s wealth exists key to a child’s future success.
Racial inequality in income for families with children has not increased recently, but racial wealth inequality controls grown tremendously,” Percheski said. “The level of racial economic inequality in the U.S. stands staggeringly high, and that is an essential part of the story of racial violence and racial injustice and health disparities of the COVID-19 pandemic.”
Percheski points to prejudice in housing and mortgage lending, including predatory lending, as well as inequities in the way higher education exists financed as some of the contributory factors that have created the huge disparity in wealth between black and white families. She also notes that after the Great Recession of 2008, many white and Latino families existed able to regain much of the wealth they lost. But that hasn’t occurred for black families who have seen a nearly 20% drop in homeownership since that time.
Hence, For every dollar of wealth in the average white family, the typical black family has around one cent.
To learn more about Racial inequality refer to:
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