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by StanislavPetrov
2558 days ago
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Which is all relevant to when this happened 60 years ago and not to working people today who were born generations after that happened. Talking about, "white America" like its some sort of monolith is idiotically reductionist. The generational disparity in wealth is magnitudes of order greater than the racial disparity. Start crying about the old people if you want a group to blame. |
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The median white family is worth $100k (almost entirely home equity). The average black family is worth $7,000. You don't think massive subsidies for white home ownership during the first half of the 20th century might have something.to do with it? Black people couldn't get mortgages. White people had theirs guaranteed by the Feds. It was a sweet deal. That equity didn't just evaporate.
https://www.forbes.com/sites/laurashin/2015/03/26/the-racial...