The median wealth of white households is 20 times that of black households. It's 18 times higher than Hispanic households, according to a Pew Research Center analysis of newly available government data from 2009.
This is the largest gap since the government began publishing this information 25 years ago. It's more than double the differences in wealth from 1990 through 2010. Why is this?
According to the Pew Research Center, the bursting of the housing market bubble in 2006 and the recession that followed from late 2007 to mid-2009 took much more of the wealth of minorities than whites. From 2005 to 2009, inflation-adjusted median wealth fell by 66% among Hispanic households and 53% among black households, compared with just 16% among white households.
Wealth is defined as assets minus debts. As a result of the recession, the typical black household had the lowest wealth – just $5,677 in 2009. The typical Hispanic household had $6,325 in wealth. The typical white household had $113,149.
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PEW RESEARCH CENTER
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