Tami Luhby, writing for CNN,
highlighted the widening wealth gap between races. In 2010, the median household net worth for whites was $110,729,
whereas the median Hispanic and black household possessed a net worth of $7,424
and $4,955 respectively. The
median Asian household net worth was $69,590. However, all three minorities were hit hard by the economic
downturn, and from 2005 to 2010 the three minority groups saw their median
household income decrease by about 60%.
On the other hand, the median white household experienced a drop in net
worth of only 23%. Today, white
Americans possess 22 times more wealth than blacks, and that disparity has
almost doubled since the recession.
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