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Stories Tagged as

Racial wealth gap

Race and Economy

Black homeownership climbed early in the pandemic. Is progress stalling?

by Matt Levin
Jun 19, 2023
Higher mortgage rates could disproportionately hurt Black homebuyers.
Historically low mortgage rates lifted homeownership across racial and ethnic groups. But those rates have more than doubled since 2021.
Joe Raedle/Getty Images
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"The Big Payback"

The consequences of underestimating the racial wealth gap

by David Brancaccio and Erika Soderstrom
Mar 2, 2023
Ivy Onyeador of Northwestern University discusses why Americans overestimate the progress we've made toward economic equality.
Many Americans don't understand the true scale of economic inequality. That can lead to misperceptions of what needs to be done, says Ivy Onyeador, professor at Northwestern University.
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Shelf Life

Wall Street widened the racial wealth gap. Can big banks help bridge it?

by Emily Flitter
Oct 25, 2022
In her new book, journalist Emily Flitter looks at how Wall Street giants have kept Black Americans out of the financial industry.
The JPMorgan Chase headquarters building in New York. Many major Wall Street firms pledged to support economic equality for Black Americans after the killing of George Floyd in 2020.
Michael M. Santiago/Getty Images
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With Roe v. Wade overturned, economic disparities are poised to get worse

by Kai Ryssdal , Andie Corban and Sean McHenry
Jun 24, 2022
For millions of Americans, the loss of abortion rights may affect educational attainment and lifetime earnings for generations.
Abortion-rights activists demonstrate in front of the U.S. Supreme Court on Friday after the court's ruling was announced.
Olivier Douliery/AFP via Getty Images
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Banking law rooted in civil rights era gets a 21st century update

by Matt Levin
May 5, 2022
Federal regulators propose new rules for the Community Reinvestment Act, which requires banks to invest in low- and moderate-income communities.
The Community Reinvestment Act, which aims to close the racial wealth gap, may be updated to cover financial firms that don't rely on neighborhood branches.
Justin Sullivan/Getty Images
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When it comes to the racial wealth gap, home appraisals are part of the problem

by Amy Scott and Sean McHenry
Aug 9, 2021
Sociologist Junia Howell shares her research on how appraisals contribute to inequality between Black and white homeowners.
The key to understanding racial inequality and appraisals is not through individual appraisers’ decisions, says sociologist Junia Howell. It’s “how the system or the way that we appraise houses more generally is structured or arranged."
Tim Boyle/Getty Images
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Race and Economy

Racial gap in appraisals devalues homes owned by people of color

by Natalie Moore
Jun 8, 2021
Lower home appraisal values contribute to the wealth gap between white communities and communities of Black and Latinx people.
Real estate agent Don Robinson said he has seen the devaluing of homes in Black neighborhoods in Chicago with little recourse for the owners.
Manuel Martinez/WBEZ
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Race and Economy

Biden administration says it will address racial inequity in home appraisals

by Andy Uhler
Jun 2, 2021
The government plans to use fair housing laws and regulatory action to address the racial disparity in home valuations.
President Joe Biden lays out policy proposals aimed at narrowing the racial wealth gap during a speech in Tulsa, Oklahoma.
Brandon Bell/Getty Images
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Race and Economy

To narrow racial wealth gap, Biden plan takes aim at home appraisal inequality

by Samantha Fields
Jun 1, 2021
Homes in most white neighborhoods are worth an average of $250,000 more than those in mostly Black and Latinx neighborhoods.
President Joe Biden laid out policy proposals aimed at narrowing the racial wealth gap during a speech in Tulsa, Oklahoma. Above, Biden speaks with Michelle Brown-Burdex of the Greenwood Cultural Center.
Mandel Ngan/AFP via Getty Images
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Education may help close the racial wealth gap, but it isn't a panacea

by Kimberly Adams and Sean McHenry
Apr 8, 2021
Darrick Hamilton, a co-author of a recent study from the New School, describes other ways to address the disparity that hurts Black Americans.
New graduates at Agnes Scott College in Georgia. African Americans need access to capital, Darrick Hamilton says.
Rick Diamond/Getty Images
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