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Whites have 20 times more money than blacks
A study found that black families are more likely to be in poverty than their white counterparts.
March 5th, 2012
11:23 AM ET

Whites have 20 times more money than blacks

By Tami Luhby, CNNMoney

The racial wealth gap between black and white Americans might be wider than you think.

Consider this: The median household wealth of blacks was a mere $5,677 in 2009, just 5% of the $113,149 median wealth of whites, according to the Pew Research Center.

That chasm of difference in financial assets is one reason why black families are seven times more prevalent in homeless shelters than white families, according to a new report released by the Institute for Children, Poverty and Homelessness. Wealth serves as a crucial safety net during economic downturns.

Read the full article on CNNMoney

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Filed under: Black in America • Economy • How we live • Race
soundoff (7 Responses)
  1. awlso

    well least my black ancestor... had made a lot of money and spoiled me with it but I probably won't make as much as her.. buut technically i don't even think she got the dollar value from actually working but just luck.. som...

    December 15, 2012 at 2:25 am | Report abuse |
  2. BOSSMASTER

    Thats because the blacks were given their independence and now is proving that theyre unable to make anything of themselves. Bein a statue on a porch holding a lamp is what theyre good for. Any applicants?

    March 6, 2012 at 5:40 pm | Report abuse |
  3. whosurdaddy

    Maybe the real reason Blacks are lagging behide because the average IQ of Blacks in America is only 85. It is racism i know everything that against political correctness is wrong in America.

    March 5, 2012 at 6:59 pm | Report abuse |
  4. John Bowman

    If you have much wealth you cannot stay on the Democrat welfare plantation, seems their plan to keep black Americans dependent and voting Democrat is going gangbusters.

    March 5, 2012 at 5:43 pm | Report abuse |
    • Dduke

      CNN why is every article here pandering to the typical minority divide and whine??

      Blacks are 12 percent of the populace, give them that in coverage and knock it off. Blacks cause more crime based on statistical representation, write an article on that???

      March 5, 2012 at 6:07 pm | Report abuse |