People often talk about income inequality, but wealth inequality is its cumulative effect (compounded by things like real estate value and other assets). When you start talking about wealth, race, and real estate, society get problematic really quickly.
Here’s a chart:
This is via some website called datatools:
In 1963, the average wealth of white families was $117,000 higher than the average wealth of nonwhite families. By 2013, the average wealth of white families was over $500,000 higher than the average wealth of African American families ($95,000) and of Hispanic families ($112,000). Put another way, white families on average had seven times the wealth of African American families and six times the wealth of Hispanic families in 2013. The ratio of white to African American or Hispanic family wealth remained extremely high over this period and deteriorated in recent years.
Anyway, many people are left behind in this country, and (IMO) the disparate advantages of home ownership multiplied over time is one big reason why.
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