Race & Money... ￼Let’s Talk About It!
At the individual level, racial differences have been observed when it comes to accumulating wealth. A study recently published by the public policy organization Demos called “Racial Wealth Gap” found that the wealth gap between Blacks and Whites has grown since the Great Recession. Specifically, it found that White households reported to have 17 times the wealth of Black households. While a number of factors have and continue to contribute to this difference, the study points out differences in investment patterns and home ownership. Minority households were less likely to own stocks, whether directly or indirectly through retirement accounts. Also, there was a reported decline in homeownership among minority households.
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