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B.
It would likely take up to 100 years, if not more, to close the racial wealth gap.
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B.
It would likely take up to 100 years, if not more, to close the racial wealth gap.
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C 150 years
B 100 years
A 50 years
Multiple studies find that after equalizing accumulation factors, it would take how many years to close the gap?
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A.
The Black unemployment rate peaked at 16.8% in May 2020, It has since fallen by 12.1 percentage points to 4.7% now (though the decline was driven, in part, by a drop in labor force participation among Black workers). The unemployment rate for Black Americans fell below 5% for the first time ever in April.
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A.
The Black unemployment rate peaked at 16.8% in May 2020, It has since fallen by 12.1 percentage points to 4.7% now (though the decline was driven, in part, by a drop in labor force participation among Black workers). The unemployment rate for Black Americans fell below 5% for the first time ever in April.
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C Never
B May
A April
When did the Black unemployment rate fall below 4% for the first time ever?
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$189,000
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$189,000
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C $224,000
B $189,000
A $98,000
What is the median amount of savings, investments, home and other elements of wealth for a white household?
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C.
Of the nation's 20 largest metro areas, only Los Angeles has a bigger difference between the median appraised value in neighborhoods where the majority of homeowners are people of color and neighborhoods where the majority of homeowners are white, according to data from sociologist Junia Howell's study, released in May.
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C.
Of the nation's 20 largest metro areas, only Los Angeles has a bigger difference between the median appraised value in neighborhoods where the majority of homeowners are people of color and neighborhoods where the majority of homeowners are white, according to data from sociologist Junia Howell's study, released in May.
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C Los Angeles
B Dallas
A Houston
Which city has a bigger gap than Chicago?
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C.
Between 75% and 95% of homes sold to Black families during the 1950s and 1960s were sold on contract.
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Between 75% and 95% of homes sold to Black families during the 1950s and 1960s were sold on contract.
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C Between 75% and 95%
B Between 45% and 55%
A Between 20% and 30%
Between the 1950s and 1960s, what percentage of homes sold to Black families in Chicago were contract sales?
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Test your knowledge
PERSIST?
RACIAL WEALTH DIVIDE
WHY DOES THE
In 1870, the wealth gap between Black and white Americans was a staggering 23-to-1 ratio. That's equivalent to just $4 of wealth for Black Americans for every $100 for white Americans. In recent years, historians, economists and the media have written on the unrelenting economic disparity. Take the following quiz to see how much you know about it.
One way Black families in Chicago were deprived of their ability to build wealth was through the practice of what was commonly referred to as "home contract sales," which grew out of federally endorsed redlining policies that denied Black homebuyers access to conventional mortgages. Home sale contracts were created by real estate speculators. Contract buyers accumulated no equity in their homes.
Among the nation's 20 largest metro areas, the gap between appraised home values in majority-white and majority-non-white neighborhoods is bigger in Chicago than in almost every other major U.S. metro area, according to a University of Illinois Chicago analyst.
The median Black household in America has around $24,000 in savings, investments, home equity and other elements of wealth.
The overall U.S. unemployment rate fell to 3.7% in May.
Those who study the racial wealth gap argue that current conditions make it impossible for Black American families to save or invest their way to more wealth parity.
Source: U.S. Bureau of Labor Statistics; Woodstock Institute; Federal Reserve System
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