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re: Racial wealth gap widened between 2016-2022, federal reserve study finds
Posted on 3/22/24 at 5:31 pm to HailHailtoMichigan!
Posted on 3/22/24 at 5:31 pm to HailHailtoMichigan!
quote:
Is anyone seriously going to argue that systemic racism against blacks got worse between 2016 and 2022?
It doesn’t have to get worse to make the gap grow. If you subscribe to the theory that initiatives like say the federal Highway system devastated the values of black home ownership then yes increased home values between 2016-2022 increased that gap. Home values are significant factor in creating generational wealth in the US for the middle class. That depends on if you believe that a bunch of those assumptions are true.
When I look at family wealth between those dates, I’m circling home values as the main source of family wealth within the middle class.
Im also seeing a ton of gen X (white baws) inheriting property and keeping property for investment. It may just be anecdotal, but the percentage of people with second homes has seemed to quadruple post Covid.
1
Posted on 3/22/24 at 5:38 pm to Motownsix
Feds dumped way too much money into the system, which flowed upwards into wealth and benefitted rich people. Inflation destroys the poors paltry purchasing power.
Uncle Sams money printer favors rich people.
Uncle Sams money printer favors rich people.
This post was edited on 3/22/24 at 5:40 pm
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