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Most people in the US are white. Adjusting for population sizes, the mean and median white family wealth was $188,200 and $983,400, respectively. For black and
by drekk 5y ago
Most people in the US are white. Adjusting for population sizes, the mean and median white family wealth was $188,200 and $983,400, respectively. For black and hispanic families those numbers were $24,100 and $142,500, respectively. It's disproportionately a problem for minorities, and if we're serious about tackling poverty and its roots we shouldn't ignore that disparity.
- ac29 5y ago> Adjusting for population sizes, the mean and median white family wealth was $188,200 and $983,400, respectively FYI, you've got this backwards and its a very meaningful difference: https://www.federalreserve.gov/econres/notes/feds-notes/disparities-in-wealth-by-race-and-ethnicity-in-the-2019-survey-of-consumer-finances-20200928.htm https://www.federalreserve.gov/econres/notes/feds-notes/disp... The mean is significantly higher than the median because it is pulled up by the ultra wealthy.
- Ancalagon 5y agoWow yeah I was gonna say. Big gaff on the parent poster's comment. If median wealth for majority families was that high I would be very confused how most families in the US could NOT handle and unexpected $500 bill. ~188k Is more inline with what I'd expect the median home equity to be for families, so that makes more sense.