Reducing the Black-white racial wealth gap will require dedicated and comprehensive policy solutions

A new issue brief from the Center for American Progress examines the Black/white wealth gap and summarizes a set of proposals and policy actions to address the gap. Some recommendations include allowing the U.S. Postal Service to conduct banking services to increase community access; investing in research and development opportunities for Black innovators and inventors;… Read more »

Analysis of multigenerational data shine further light on the widening of the Black-white poverty gap over time

Findings from the Panel Study of Income Dynamics (PSID) reveal disproportionate multigenerational poverty among Black families compared to white families. When poverty is defined as the bottom fifth of earners, Black Americans make up 44 percent of poor adults in their 30s. The persistence of Black multigenerational poverty can be attributed to deeper poverty rates… Read more »

Households receiving government benefits have 2% of the wealth, 89% the debt of counterparts without benefits

The Census Bureau reports on the 2017 wave of its Survey of Income and Program Participation, assessing wealth and debt among low-income households. The report quantifies median wealth of households participating in means-tested government benefit programs versus their counterparts without benefits, finding a massive gap between the two. Even excluding home equity, those receiving benefits… Read more »

Native Communities Face Sustained Challenges to Building Financial Resilience

Generations of financial exclusion, wealth-stripping policies, and government subjugation contributed to financial fragility that has left majority-Native communities especially vulnerable to the pandemic’s economic ramifications. Using unique credit bureau and alternative financial service data on more than five million people with a credit file, Urban Institute explored the financial well-being of people living in majority-Native… Read more »

Expanding Homeownership Vouchers Could Help Boost Black Homeownership and Wealth

Only 53 percent of Black household heads owned homes in March 2020, compared with 78 percent of white household heads, according to the US Census Bureau’s Current Population Survey. Racial discrimination in lending and the labor market, residential segregation, and exclusionary zoning restrictions contribute to Black families’ lower homeownership rates and to the broader wealth… Read more »

By 2040, the US Will Experience Modest Homeownership Declines. But for Black Households, the Impact Will Be Dramatic.

Homeownership is one of the most widespread and effective ways families can build intergenerational wealth. Though it is not the best option for everyone, evidence shows homeownership is still financially better than renting. But housing equity is not shared evenly. The homeownership gap between Black families and white families is wider today than it was… Read more »

Equity and Catastrophe: How Can Resilience Programs Support Vulnerable Populations?

On a day-to-day basis, vulnerable populations suffer from inequities in health, wealth, and education. These same people are then disproportionately impacted by catastrophes ranging from hurricanes to COVID-19, which only serve to underline the great and urgent need for equity across race, gender, and income. In this episode of The Intersect, Madeline Colety and Lorine Giangola… Read more »