4 ms·
Because older families are wealthier and immigrants who just came to the United States (people of color) is the cause of the gap. Not the race itself (Indian, J
by lihaciudaniel 6y ago
Because older families are wealthier and immigrants who just came to the United States (people of color) is the cause of the gap. Not the race itself (Indian, Japanese etc..)
- bitcurious 6y agoI don't think that's accurate for the biggest gap (black Americans vs. white Americans.) Here's a study local to Boston, but it's not unique to Boston. [0] Relevant highlight from a summary: [1] >The household median net worth was $247,500 for whites; $8 for US blacks (the lowest of all five cities); $12,000 for Caribbean blacks; Note that Caribbean blacks (immigrants) have a much higher net worth than US blacks. [0] https://www.bostonfed.org/publications/one-time-pubs/color-of-wealth.aspx https://www.bostonfed.org/publications/one-time-pubs/color-o... [1] https://www.bostonglobe.com/metro/2017/12/11/that-was-typo-the-median-net-worth-black-bostonians-really/ze5kxC1jJelx24M3pugFFN/story.html https://www.bostonglobe.com/metro/2017/12/11/that-was-typo-t...