Click On The Photo To Visit Our Main Website for the Latest Information

Posted in Black Interests, Black Men In America with tags , on September 3, 2021 by Gary Johnson

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We have a new website and a new look.  Click here to visit the main website. Please check out the main website now!

Gary Johnson
Founder & Publisher
Black Men In America.com

How Do Black People Spend Their Money? (The Racial Wealth Gap)

Posted in Black America, Black Interests, Black Spending Power, Money/Economics with tags , on September 3, 2021 by Gary Johnson

House

The Legacy Series contains the most read articles in the history of this website.  This is the #2 most read article in the history of Black Men In America.com.

By Gary A. Johnson – Black Men In America.com

Updated December 28, 2022 (Originally posted on November 5, 2010).

How black people spend their money has been a hotly debated topic in offices, at social events, and in beauty and barber shops across America. This article, “How Do Black People Spend Their Money?,” has been the most read and commented article for 12 years running.  Once I learned that this was the most popular and discussed article on the website, I decided to do some research and share this information with others. Over the years I found the process of gathering data and updating the site to be exhausting. It’s a lot to read. I update the site 1-2 times per year. This year I decided to update the article via video in the form of a pictorial slideshow. This way the reader has options. You can watch a 9-minute video which is the equivalent of having a summary video or a “Cliff Notes” version of how Black people spend their money, which includes a new component. I developed, “Gary’s 10 Tips To Prosperity and Emotional Fulfillment,” as part of the 2022 update.  Or, you can read and review the exhaustive data and charts/graphs.

Here’s something to think about.   Blogger Matthew Corbin lists 5 Reasons Why Black People Are Still Broke.

Here are Corbin’s 5 reasons:

  1. Black people spend more money than they make
  2. Black people don’t support black businesses
  3. Black people don’t save their money
  4. Black people don’t know how to invest
  5. Black people aren’t working towards getting out of poverty

Click here to read Corbin’s explanation for each reason.

There is an article on Mater Meta.com, by Kimberly Anderson-Mutch, about how to build generational wealth.  Kimberly outlines the following 5 things that Black families can do to build generational wealth.

  1. Talk to your children about wealth.
  2. Buy a home or invest in real estate to create generational wealth.
  3. Start a business.
  4. Invest in stocks.
  5. Establish an estate plan.

A recently released study by Merrill Lynch explored the ways wealthy Black people in the US spend their money.

What they found is that many well-to-do Black Americans:

  • Take care of their family members, invest in their friends’ businesses, and eliminate debt
  • Spend their earnings preparing for the future and retirement

The study, entitled “Diverse Viewpoints: Exploring Wealth in the Black/African American Community,” surveyed 455 affluent Black people –– defined as a household with annual income of $125,000 or more. The study’s findings indicate that this group of the US population is actually growing in size and has been since 2015.

The study participants reported working harder than other people in the affluent income category and charter their own career pathways. Affluent Black in the US are five times more likely to financially support their parents than other affluent people and four times more likely to plan to start their own business.

Another great source of information isHow Black/African Americans Pursue—and Define—Success, by Diallo Hall, a longtime content strategist and editor whose experience includes serving as Director of Thought Leadership at Fortune and Senior Editor at the Economist Intelligence Unit.  In that article you will read about the “Black Rules for Success,” from other successful Black/African American survey respondents.

Part 1:  The Narrative

Part 2:  The Pictorial Slideshow of How Black People Spend Their Money

Warning:  The following is a link to a long article with a lot of details, numbers, observations and opinions covering over two decades of information and data.  A large portion of the data was gathered before COVID-19.

Click Here To Read The Entire Updated “How Do Black People Spend Their Money?”

How black people spend their money has been a hotly debated topic not only on this site, but in our office, at social events and in beauty and barber shops across America.  This article has been the most read and commented article for 12 years running.  Once I learned that this was the most popular and discussed article on the website, I decided to do some research and share this information with others.

Click Here To Read The Entire Updated “How Do Black People Spend Their Money?”

Let’s start by watching this short video that explains the “racial wealth gap” in America.

Check out this 1954 film made to educate white merchants on the spending habits of Black Americans.

The Secret of Selling the Negro Market is a 1954 film financed by Johnson Publishing Company, the publisher of Ebony magazine, to encourage advertisers to promote their products and services in the African-American media. The film showed African-American professionals, housewives and students as participants in the American consumer society, and it emphasized the economic power of this demographic community. The film, which was shot in Kodachrome Color, featured appearances by Sinclair Weeks, Secretary of the U.S. Department of Commerce, and radio announcer Robert Trout. The film had its premiere in July 1954 at the Joseph Schlitz Brewing Company in Milwaukee, Wisconsin, and was shown on a non-theatrical basis.

Watch this film and measure how far we’ve come over the last 60+ years.

Click Here To Read The Entire Updated Article

The series of articles and versions of “How Do Black People Spend Their Money?” contain opinions from outside sources not affiliated with Black Men In America.com.  This series is for information and educational purposes only. The opinions and views expressed do not necessarily reflect the opinions and views of Gary Johnson, Black Men In America.com or any of its affiliates.

Gary is the Founder and Publisher of Black Men In America.com, an online news and magazine, Black Boating and Yachting.com and several other online sites.  Gary is also the author of the book 25 Things That Really Matter In Life,”:  A Quick and Comprehensive Guide To Making Your Life Better—Today! and The Black Father Perspective: What We Want America To Know,” and In Search of Fatherhood – Transcending Boundaries: International Conversations on Fatherhood.“  In 2019, Gary developed a line of spices under the name of MasterChef Gary’s Premium Organic Seasoning.”  In 2021, Gary launched a motivational website and talk show called Calculations.  For motivational content and exclusive interviews with interesting people, visit Calculations Talk Show.com.  In his spare time, Gary uses his platform to help the Black Farmers of America.  He built the website Justice for Black Farmers to help educate others about the plight of the Black Farmer and their fight against the U.S. Department of Agriculture.

Click Here To Read The Entire Updated “How Do Black People Spend Their Money?”

Nah Bruh–This Ain’t It: Noose Necktie Designer “Apologizes”

Posted in Black Interests, Gary A. Johnson, Racism on September 3, 2021 by Gary Johnson

By Gary A. Johnson

Apparently, some misguided young Black man from South Africa named Daniel Ngobeni is selling “Daniel’s Rope Ties,” which are described as “African rope wear” for “all genders.”  Really?  It has also been reported that Ngobeni refers to his product as a “rope of honor.”  Are you getting me?  There is ALWAYS someone who will sell his soul and set his community back for a dollar.

WTF is “African Rope Wear?”  Only with Black people it seems, is this kind of crap acceptable and in some cases encouraged.  This is what years of racism does to the psyche of a culture.  No other culture would accept this.  There would be no product for sale.  When was the last time you purchased Holocaust SWAG?  Black people will buy anything.  There is a certain segment of our population that simply knows no boundaries when it comes to buying shit.  Don’t believe me?  Click here and read how black people spend their money

Anyone who purchases any one of these products is simply uneducated, has no knowledge of American or Black history, or is a jackass.  That’s probably the kindest thing I can say about someone who would buy this “product.”  I will leave it at that. 

For the record, Daniel Ngobeni acknowledged that many people online have been critical of his product.  (No shit)!  In what crafted as an apology, Ngobeni explained that he was trying to do something that’s never been done in fashion.  He further explained, “I asked myself, ‘Can the same rope that has been used to take someone’s life, can it be used for a better purpose?'” he explained. “Can the same object be used in a different way?’ So I thought of the tie.”  You just have to shake your head when you hear shit like that.

“I would like to extend my apologies to my Black brothers and sisters in America,” he continued. “I didn’t mean to hurt anyone. I am sorry to people who see this as something bad.”  Despite this so-called apology, Ngobeni says, he still intends to sell the ties.  Of course he will continue to sell the ties.  There is a market and he has every right to sell them.  If people did not buy them, he would design or sell something else.  Again, black folks, it seems, will buy anything.

That my friend should tell you everything that you need to know about Daniel Ngobeni and the people who purchase his product.  He’s probably a nice young man who is capitalizing on an opportunity to make a dollar off of some gullible Black Americans.  There’s nothing illegal about what he’s doing.  I will wrap up my commentary by saying, “All money ain’t good money, and some of it (the money), is not worth the effort).  I might suggest that brother Ngobeni look up the word “integrity.”

I am speaking for myself when I write:  “Apology NOT accepted!”

Feel free to scroll down and post your comments below.

Gary A. Johnson is the Founder of Gary A. Johnson Company & Associates, LLC, a management training and consulting company. The company manages a variety of Internet and digital media enterprises including Black Men In America.com, a top-ranked website in the category of “African American Online Communities.  Gary is also the author of the book25 Things That Really Matter In Life,”:  A Quick and Comprehensive Guide To Making Your Life Better—Today!, and a contributing author to two other books, The Black Father Perspective:  What We Want America To Know,” andIn Search of Fatherhood – Transcending Boundaries: International Conversations on Fatherhood.”  In addition, the company manages Black Boating and Yachting.com, a site that highlights the adventures of boating enthusiasts. In 2019, Gary developed a line of spices under the name ofMasterChef Gary’s Premium Organic Seasoning.”

Acts of Kindness

Posted in Black Interests, Kindness with tags on January 13, 2019 by Gary Johnson

Publisher’s NoteThe federal government shutdown is negatively impacting approximately 800,000 federal workers and about 4 million contractors.  People have missed one paycheck and many are having difficulty paying their mortgages, car loans, buying food, medicine and paying for childcare.  The nation’s food supply and air safety are at risk as Food Inspectors and Transportation Safety Administration (TSA) Officers are short staffed and some airport checkpoints have been closed.  If ever there was a time to be kind to one another it is NOW!

Throughout my life I have witnessed and benefited from deliberate and random acts of kindness.  I’ve learned that there are various levels or degrees of kindness.  As a result, I am kind to others and I teach others to be kind, patient, understanding and forgiving.  Kindhearted people can make a significant impact on others and help make our world a better place.  This page is the result of a discussion about kindness.  We want you to share your acts of kindness.  Not sure what to do?  Here are some examples:

  • Be a friend who listens
  • Call or write to a teacher who changed your life
  • Spend quality time with your children, parents or friends
  • Cook a meal for someone
  • Forgive someone a debt–and never bring it up again
  • Help someone do stuff for FREE
  • Leave a generous tip for a pleasant waiter
  • Donate money, clothes or equipment to an organization that helps others
  • Mentor a child or teen
  • Offer change when the person in front of you at the register comes up short
  • Offer to baby-sit for someone for FREE
  • Pay the toll for the driver behind you
  • Say “I love you” to someone you love
  • Say “please” and “thank you”—and really mean it
  • Sincerely say “I’m sorry” when you’re wrong
  • Visit the elderly in a nursing home
  • When you’re on a crowded train or bus, offer your seat to an elderly, disabled or pregnant person

Please click here to share your random or deliberate act of kindnessOr scroll down below and share your act of kindness in the “Comments” section.

The federal government shutdown is negatively impacting approximately 800,000 federal workers and about 4 million contractors. People have missed one paycheck and many are having difficulty paying their mortgages, car loans, buying food, medicine and paying for childcare. The nation’s food supply and air safety are at risk as Food Inspectors and Transportation Safety Administration (TSA) Officers are short staffed and some airport checkpoints have been closed. If ever there was a time to be kind to one another it is NOW! Today, I loaded my snow thrower in my van and cleared the snow out of the driveways of my neighbors who are senior citizens. Another man who doesn’t even live in the neighborhood joined me. Together, we cleared 5 driveways.

Gary Johnson – Founder & Publisher, Black Men In America.com

How to “Take Flight” and Make 2019 a Great Year

Posted in Black Interests, Motivational Moments with tags , on January 1, 2019 by Gary Johnson

Welcome to 2019!  Black Men In America.com Airlines welcomes you to our First Class Travel Program, where we will travel through 2019 with our final destination being the year 2020.  Before you start this journey you must read and acknowledge our “mandatory” pre-flight agreement.  This agreement is written in the form of a pre-flight announcement to make it easy for you to comprehend.

My name is Gary Johnson.  I am the Co-Pilot for this flight.  On behalf of our flight crew let me welcome you to Flight #2020.  Flight #2020 is a direct flight to being the best that you can be in 2019.  Here at Black Men In America.com Airlines we always looking toward the future.

We are concerned about your continued safety and care.  To ensure that we have a comfortable trip, no “baggage” will be allowed on this flight.  We ask that you bring only positive mental energy.  You may use your imagination and follow along as we perform our safety demonstration.

Please make sure that your thoughts and energies are in the secured and upright position at all times.  All self-destructive and self-defeating thoughts and negative behaviors should be turned OFF at this time.

To fasten your seat belt, insert the metal fitting into the buckle and adjust to fit snugly across your lap.  Should you be called to get up and assist others simply lift the buckle release and you will be free to provide assistance.

There are 10 emergency exits, five doors on the left and five doors on right, each marked with a red DO THE RIGHT THING sign overhead.  All doors are equipped with slide rafts. These rafts may be detached in the event that you lose patience or forget how to treat people with dignity and respect.  Please locate the two exits nearest you, keeping in mind that the closest exit may act as your conscious if you haven’t been living “right.”

Please observe the lighted signs until they have been turned off by the Captain. The NO WHINING sign will remain illuminated for the duration of the flight and complaining is prohibited throughout the cabin.

Should we lose altitude during this flight, reach up and pull down a prayer. Prayers will automatically be answered as they are activated by faith.  This means that some prayers will be answered faster than others based on how you’ve exercised your faith, but rest assured, your prayers will be answered.

In the event that we lose altitude or sustain an emergency, this aircraft is equipped with aisle path lighting which is located on the floor in the left and right aisles. Should cabin visibility be impaired, the exit path will be illuminated.  Follow the white lights which will lead you to a pearly gate.  Your name should be on the “Guest List.”  If your name is not on the list, perhaps you have some additional work to do and this incident should serve as a reminder that you need to make better choices or some changes in your life.

The beauty of this flight is that you still have time to take the steps necessary to get your life together and get your name on the “right” list.  You still have to be kind, patient, caring and respectful.  If you are kind, caring and respectful, there’s room for you on this flight.  Kindness and goodness are renewable resources and we will use these resources throughout this flight.

If you choose to behave otherwise, you will see red lights which indicate you have reached your final destination.  You will not have access to an oxygen mask or a life vest.  In other words, you’re DONE!

The Captain (GOD) has cleared us for takeoff.  The choice is yours.  This may be your last chance to decide which direction you’re going to take in your life for 2019 before the cabin doors close.

Thank you for flying with us—destination GREATNESS!

Gary A. Johnson is the Founder & Publisher of Black Men In America.com, a popular online magazine and the Black Men In America.com Blog. Gary is also a management consultant for the federal government and many Fortune 500 companies.  He is the author of the book “25 Things That Really Matter In Life.”  To learn more about Gary click here.

Publisher’s Note:  Thanks to Staceé Lang for planting this idea in my head.

New Book: “Walking My Momma Home” by Kathy Flora

Posted in Black Interests, Health & Fitness, Women's Interests with tags , , , on October 13, 2018 by Gary Johnson

Walking My Momma Home by Kathy Flora is a memoir of my mom and me. It’s about love, hope, uncertainty, role reversal, courage and the raw humanity in Mom’s experience of losing herself to the disease. It’s about the hard decisions, conflicts, the relationship balancing and personal soul-stretching my care-giving required. It’s our story of surprising joy and laughter, of tears and terrors, of opening hearts and deep, emotional healing.

Filled with stories, reflection, insightful questions, and invaluable resources, Walking My Momma Home helps you reflect on and process your own journey through the raw experience of fellow travelers walking dementia’s labyrinth.

You are NOT Alone!

Over 15.7 million people today are caring for a loved one with dementia. As caregivers, it’s easy for us to feel isolated. If you’re weary of the heartache and losses you both suffer, of the restless nights and chaotic days, then you know that our frustrations, helplessness, and fear can drive us to our knees. Dementia is cruel.

But the care-giving journey that we are on also offers unexpected, uplifting gifts:

♥ profound personal insight     

♥ explosive spiritual growth     

♥ discovery of our deepest self

All of these gifts are buried, to be uncovered in the experience of walking alongside. Care-giving is tough, yet it can open a channel to accessible grace that will change your life forever.

Walking My Momma Home is a memoir of my mom and me. It’s about love, hope, uncertainty, role reversal, courage and the raw humanity in Mom’s experience of losing herself to the disease. It’s about the hard decisions, conflicts, the relationship balancing and personal soul-stretching my care-giving required. It’s our story of surprising joy and laughter, of tears and terrors, of opening hearts and deep, emotional healing. It’s our story of surprising joy and laughter, of tears and terrors, of opening hearts and deep, emotional healing.

Filled with stories, reflection, insightful questions, and invaluable resources, Walking My Momma Home helps you reflect on and process your own journey through the raw experience of fellow travelers walking dementia’s labyrinth.

PRAISE FOR WALKING MY MOMMA HOME:

“There are truly no words for how deeply this book resonated with me. There were so many days while reading it that the bravery and authenticity Kathy showed by sharing her journey helped me face the walk I’m currently on with my parents. I laughed. I cried. And then I cried some more, but I cried tears of comfort and understanding. This book is the ultimate story of the cycle of life – the journey home – that each of us is on, and it’s full of light, love, and laughter along with all the tears. Thank you, Kathy, for writing such a powerful, heartfelt book and for sharing your journey and your mom’s journey with the world. I’m forever grateful.” — D. D. Scott, International Bestselling Author

About Kathy Flora

Kathy Flora is a Nationally Certified Career Counselor and Master Career Coach. She began this work at Purdue University in College Placement. Through successive job changes, she’s worked as a consultant, a business executive, organization development and job search trainer, an elected State Representative in New Hampshire, an HR representative at the Congressional Research Service of the Library of Congress, and finally as a leadership program manager in an Intelligence Community agency in the federal service in Washington D. C. and Tampa, Florida.

Click Here To Read An Excerpt from “Walking My Momma Home”

Updated: How Do Black People Spend Their Money?

Posted in African Americans, Black America, Black Interests, Black Spending Power, Gary A. Johnson, Money/Economics, Women's Interests with tags , , , on July 1, 2017 by Gary Johnson

House

The Legacy Series contains the most read articles in the history of this website.  This is the #2 most read article in the history of Black Men In America.com.

By Gary A. Johnson – Black Men In America.com

Updated December 28, 2022 (Originally posted on November 5, 2010).

How black people spend their money has been a hotly debated topic in offices, at social events, and in beauty and barber shops across America. This article, “How Do Black People Spend Their Money?,” has been the most read and commented article for 12 years running.  Once I learned that this was the most popular and discussed article on the website, I decided to do some research and share this information with others. Over the years I found the process of gathering data and updating the site to be exhausting. It’s a lot to read. I update the site 1-2 times per year. This year I decided to update the article via video in the form of a pictorial slideshow. This way the reader has options. You can watch a 9-minute video which is the equivalent of having a summary video or a “Cliff Notes” version of how Black people spend their money, which includes a new component. I developed, “Gary’s 10 Tips To Prosperity and Emotional Fulfillment,” as part of the 2022 update.  Or, you can read and review the exhaustive data and charts/graphs.

Here’s something to think about.   Blogger Matthew Corbin lists 5 Reasons Why Black People Are Still Broke.

Here are Corbin’s 5 reasons:

  1. Black people spend more money than they make
  2. Black people don’t support black businesses
  3. Black people don’t save their money
  4. Black people don’t know how to invest
  5. Black people aren’t working towards getting out of poverty

Click here to read Corbin’s explanation for each reason.

There is an article on Mater Meta.com, by Kimberly Anderson-Mutch, about how to build generational wealth.  Kimberly outlines the following 5 things that Black families can do to build generational wealth.

  1. Talk to your children about wealth.
  2. Buy a home or invest in real estate to create generational wealth.
  3. Start a business.
  4. Invest in stocks.
  5. Establish an estate plan.

A recently released study by Merrill Lynch explored the ways wealthy Black people in the US spend their money.

What they found is that many well-to-do Black Americans:

  • Take care of their family members, invest in their friends’ businesses, and eliminate debt
  • Spend their earnings preparing for the future and retirement

The study, entitled “Diverse Viewpoints: Exploring Wealth in the Black/African American Community,” surveyed 455 affluent Black people –– defined as a household with annual income of $125,000 or more. The study’s findings indicate that this group of the US population is actually growing in size and has been since 2015.

The study participants reported working harder than other people in the affluent income category and charter their own career pathways. Affluent Black in the US are five times more likely to financially support their parents than other affluent people and four times more likely to plan to start their own business.

Another great source of information isHow Black/African Americans Pursue—and Define—Success, by Diallo Hall, a longtime content strategist and editor whose experience includes serving as Director of Thought Leadership at Fortune and Senior Editor at the Economist Intelligence Unit.  In that article you will read about the “Black Rules for Success,” from other successful Black/African American survey respondents.

Part 1:  The Narrative

Part 2:  The Pictorial Slideshow of How Black People Spend Their Money

Warning:  The following is a link to a long article with a lot of details, numbers, observations and opinions covering over two decades of information and data.  A large portion of the data was gathered before COVID-19.

Click Here To Read The Entire Updated “How Do Black People Spend Their Money?”

How black people spend their money has been a hotly debated topic not only on this site, but in our office, at social events and in beauty and barber shops across America.  This article has been the most read and commented article for 12 years running.  Once I learned that this was the most popular and discussed article on the website, I decided to do some research and share this information with others.

Click Here To Read The Entire Updated “How Do Black People Spend Their Money?”

Let’s start by watching this short video that explains the “racial wealth gap” in America.

Check out this 1954 film made to educate white merchants on the spending habits of Black Americans.

The Secret of Selling the Negro Market is a 1954 film financed by Johnson Publishing Company, the publisher of Ebony magazine, to encourage advertisers to promote their products and services in the African-American media. The film showed African-American professionals, housewives and students as participants in the American consumer society, and it emphasized the economic power of this demographic community. The film, which was shot in Kodachrome Color, featured appearances by Sinclair Weeks, Secretary of the U.S. Department of Commerce, and radio announcer Robert Trout. The film had its premiere in July 1954 at the Joseph Schlitz Brewing Company in Milwaukee, Wisconsin, and was shown on a non-theatrical basis.

Watch this film and measure how far we’ve come over the last 60+ years.

Click Here To Read The Entire Updated Article

The series of articles and versions of “How Do Black People Spend Their Money?” contain opinions from outside sources not affiliated with Black Men In America.com.  This series is for information and educational purposes only. The opinions and views expressed do not necessarily reflect the opinions and views of Gary Johnson, Black Men In America.com or any of its affiliates.

Gary is the Founder and Publisher of Black Men In America.com, an online news and magazine, Black Boating and Yachting.com and several other online sites.  Gary is also the author of the book 25 Things That Really Matter In Life,”:  A Quick and Comprehensive Guide To Making Your Life Better—Today! and The Black Father Perspective: What We Want America To Know,” and In Search of Fatherhood – Transcending Boundaries: International Conversations on Fatherhood.“  In 2019, Gary developed a line of spices under the name of MasterChef Gary’s Premium Organic Seasoning.”  In 2021, Gary launched a motivational website and talk show called Calculations.  For motivational content and exclusive interviews with interesting people, visit Calculations Talk Show.com.  In his spare time, Gary uses his platform to help the Black Farmers of America.  He built the website Justice for Black Farmers to help educate others about the plight of the Black Farmer and their fight against the U.S. Department of Agriculture.

Click Here To Read The Entire Updated “How Do Black People Spend Their Money?”

We Have A New Website

Posted in Black Men, Black Men In America, Gary A. Johnson with tags , , , on January 1, 2015 by Gary Johnson

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We have a new website and a new look.  Click here to visit the new website. If you are a subscriber to our posts or e-mails you will have to sign-up on the new website.  Please check out the new site now!

Gary Johnson
Founder & Publisher
Black Men In America.com

Wealth Inequality By Race Has Widened Since 2007

Posted in African Americans, Black America, Black Interests, Money/Economics with tags , , , on December 15, 2014 by Gary Johnson

Cash

By Black Men In America.com Staff

The Pew Research Center released a study on Wealth Inequality.  Pew Research Center is a nonpartisan fact tank that informs the public about the issues, attitudes and trends shaping America and the world.  According to the study, the wealth of white households was 13 times the median wealth of black households in 2013, compared with eight times the wealth in 2010, according to a new Pew Research Center analysis of data from the Federal Reserve’s Survey of Consumer Finances. Likewise, the wealth of white households is now more than 10 times the wealth of Hispanic households, compared with nine times the wealth in 2010. The study was conducted by Rakesh Kochhar and Richard Fry.
The current gap between blacks and whites has reached its highest point since 1989, when whites had 17 times the wealth of black households. The current white-to-Hispanic wealth ratio has reached a level not seen since 2001. (Asians and other racial groups are not separately identified in the public-use versions of the Fed’s survey.)

For many middle-class Americans, wealth is tied to the value of their homes. When the housing market crashed in 2007, the value of Americans’ assets took a beating across racial groups. Yet in the recovery, blacks have not bounced back as well as whites.

housing-literacy_lg

Black homeownership rates in the U.S. have historically been lower than white homeownership rates for a variety of reasons, but primarily due to a long history of racist housing policies that legal reforms have not entirely erased. During the housing boom of the last decade, blacks were more likely to get stuck with high-cost subprime mortgage loans than whites. In the crash, blacks were more likely to lose their homes than whites.

Leaving aside race and ethnicity, the net worth of American families overall — the difference between the values of their assets and liabilities — held steady during the economic recovery. The typical household had a net worth of $81,400 in 2013, according to the Fed’s survey — almost the same as what it was in 2010, when the median net worth of U.S. households was $82,300 (values expressed in 2013 dollars).

The stability in household wealth follows a dramatic drop during the Great Recession. From 2007 to 2010, the median net worth of American families decreased by 39.4%, from $135,700 to $82,300. Rapidly plunging house prices and a stock market crash were the immediate contributors to this shellacking.

Our analysis of Federal Reserve data does reveal a stark divide in the experiences of white, black and Hispanic households during the economic recovery. From 2010 to 2013, the median wealth of non-Hispanic white households increased from $138,600 to $141,900, or by 2.4%.

Click here to read the full study.

Americans' Wealth Since Great Recession

Tim Wise Discussing Race and Racism on The Rock Newman Show

Posted in African Americans, Barack Obama, Black America, Black Interests, Black Men, Black Men In America with tags , , , , on December 12, 2014 by Gary Johnson

Talk show host Rock Newman leads a very insightful conversation with Tim Wise, a man who has spent much of his adult life fighting racism and educating others about white privilege.