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Wealth Gap Between Whites, Blacks And Hispanics Widens

Posted by: Abhijeet Chavan
Thanks to: Kurt Paulsen
18 October 2004 - 10:00am

Hispanics and blacks lost nearly 27 percent of net worth between 1999 and 2001

A new study from the Pew Hispanic center, based on Census data, shows that White households had a median net worth of greater than $88,000 in 2002, 11 times more than Hispanics and more than 14 times that of blacks. The study attributed the differences to employment opportunities and homeownership rates. "Blacks were slowest to emerge from the economic downturn that started in 2000 and ended in late 2001."

Full Story: Study: Wealth gap widened for blacks, Hispanics
Source: CNN, October 18, 2004
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At a much larger economic scale, however, one mustn’t avoid calculating the tremendous and exceptional externalities of automobile dependency.
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