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Whiteness Index
- Amount Black households earn for every
dollar earned by white households: 62 cents
- Median net worth per white family: $45,740
- Median net worth per Black family: $4,418
- Median net financial assets (net worth
minus home and car equity) per white family: $7,000
- Median net financial assets per Black
family: $0
- Black-white gap in wealth accumulation,
1967: $16,000
- Black-white gap in wealth accumulation,
1988: $72,000
- Average mortgage rate for Black homeowners:
9.614%
- Average mortgage rate for white homeowners:
9.07%
- Amount extra that Black homeowners pay
the banks: $10.5 billion
- Projected amount extra that the next
generation of Black homeowners will pay the banks: $21.5 billion
- Price of being Black for this generation
(totaling higher mortgage rates, less housing appreciation and
denied mortgages): $82 billion
- Projected price of being Black for the
next generation: $93 billion
- Projected advantage of being white for
the next generation: $93 billion
Sources: Journal of Blacks in Higher
Education; Melvin Oliver and Thomas Shapiro, Black Wealth/White
Wealth 1995)
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