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Wealth gap widens between races
The Great Recession has widened the wealth gap, and race is a major factor.
June 21st, 2012
09:00 AM ET

Wealth gap widens between races

By Tami Luhby,  @CNNMoney

NEW YORK (CNNMoney) - White Americans have 22 times more wealth than blacks - a gap that nearly doubled during the Great Recession.

The median household net worth for whites was $110,729 in 2010, versus $4,995 for blacks, according to recently released Census Bureau figures.

The difference is similarly notable when it comes to Hispanics, who had a median household net worth of $7,424. The ratio between white and Hispanic wealth expanded to 15 to 1.

The gap between the races widened considerably during the recent economic downturn, which whites weathered better than blacks, Hispanics and Asians.

The latter three groups saw their median household net worth fall by roughly 60% between 2005 and 2010, while the median net worth for white households slipped only 23%.

This allowed whites to leap ahead of Asians as the race with the highest median household net worth.

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Filed under: Economy • History • How we live • Race
soundoff (6 Responses)
  1. Stu Nahan

    Deport ALL illegals and we would be driving the new vehicles theyve stolen from our economy. We would be free to pursue our talents instead of working for third world wages with a spanic standard of living. NO BORDER, NO PEACE!

    June 23, 2012 at 9:38 pm | Report abuse |
  2. Pete

    Just let republicans have their way and wealth will skyrocket for the 1% ers.It's their extremist plan and they'll do what they have to achive it,no matter who or what gets hurt getting in the way while they're doing it,collateral damage as one would say..So be carefull who or what you vote for ,eventually it might be coming back to bite ya where it counts,that will definitly smart,won't it!!

    June 23, 2012 at 7:15 pm | Report abuse |
  3. AmericanCherokeeFirst

    I am interested on how you gathered your statistical data. Do you average in the wealth of the 1% with the rural 99%? does the fact that whites are 48% of the population compared to 12% being black affect the data? interesting...

    June 23, 2012 at 11:01 am | Report abuse |
    • AmericanCherokeeFirst

      If only you saw everyone's income compared to the income of the American Indian reservations.

      June 23, 2012 at 11:05 am | Report abuse |
  4. ted

    I'm trying very hard to find this "Census" data that every Liberal news agency is reporting, but I'm having a heck of a time finding it.

    June 21, 2012 at 4:55 pm | Report abuse |
    • mickey1313

      That's because it is propaganda and an out right lie

      June 22, 2012 at 2:21 am | Report abuse |