First of a two-part report. Here's a startling figure: The
typical white family has 20 times the wealth of the median black
family. That's the largest gap in 25 years. The recession
widened the racial wealth gap, but experts say it's also due to
deeply ingrained differences in things such as inheritance, home
ownership, taxes and even expectations. Take the example of two
California women, Dametra Williams and Stephanie Upp, who aren't
that different in many ways. Both were raised by single mothers
who struggled financially. Both worked hard to get where they
are today. But how they describe basically the same thing about
how they got to where they are today differs. Wealth Gap Grows
Median wealth (1984-2007) Figures do not include home equity.
The data is based on more than 2,600 families tracked by the
study's researchers, Thomas M. Shapiro, Tatjana Meschede and
Laura Sullivan. The researchers published their findings in a
brief, "The Racial Wealth Gap Increases Fourfold." Williams is
40, black and a single