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Pensions, Homeownership, and Property Income
from Part III - African American Income and Wealth, 1965–Present
Published online by Cambridge University Press: 06 April 2023
The mean African American family wealth is 6–8 percent of mean White family wealth. About 1 of every 3 African American families are bankrupt. Both numbers were unchanged during 1984–2017. The African American savings rate is at least as high as the White savings rate for families with the same level of earnings (income). Racial differences in inheritances and in vivo transfers explain the greatest portion of racial wealth disparity.
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