The recent protests in the country, have laid bare America’s ongoing racial divide.
One source of that tension is the large financial gap between black and white Americans.
The figures are staggering.
A typical black household has accumulated less than one-tenth of the wealth of a typical white one. And it’s only getting worse.
Over the past 25 years, the wealth gap between blacks and whites has nearly tripled, according to research by Brandeis University.
Median household wealth
That’s in large part because home ownership among blacks is so much lower. Housing is often Americans’ greatest asset and a major component of their overall wealth.
Median Household Income
Blacks also typically have lower incomes than whites, which also makes it harder for them to save and build wealth. The median income for black households is less than 60% that of white ones.