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Is there a wealth gap due to discrimination?

The EPI provides evidence for yes in the 6th of their top charts of 2017, The racial wealth gap is the clearest legacy of past discrimination in housing markets. Their chart shows the differences for mean and median household wealth for black and white households. They key is housing:

Besides facing discrimination in employment and wages, black families historically have been shut out of the most important wealth-building market: housing. Overall, home equity makes up about two-thirds of all wealth for the typical household. In short, for median families, the racial wealth gap is overwhelmingly a housing wealth gap. And this housing wealth gap is no accident; it is the outcome of intentional policies at all levels of government, in particular housing policies that prevented blacks from acquiring land, created redlining and restrictive covenants, and encouraged lending discrimination. These policies created and reinforced the racial wealth gap we are still struggling to address.

You can download the data and graph for all of EPI’s top charts of 2017.

About Thomas J. Pfaff

Thomas J. Pfaff is a Professor of Mathematics at Ithaca College. He created this website because he believes that sustainability, ranging from climate change to social justice, should be included in all courses whenever possible.

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