REPORT: Wealth Gap Between Whites & Minorities Rise to Historic High as Net Worth of Black & Hispanic Household Erode Under Housing Market Collapse

Pew Research: The wealth gap between whites, blacks & Hispanics greatest it has ever been since 1984, with no improvement in sight.

FROM WASHINGTON POST: The wealth gap between whites and minorities has risen to a historic high, according to new census data analyzed by the Pew Research Center, as the collapse of housing prices more severely affected the net worth of African American and Hispanic households. The report, which was to be released Tuesday, shows that the recession wreaked havoc on the wealth of all Americans but that whites lost the least amount as a percentage of their holdings.

FROM THE HOUSTON CHRONICLE: The median wealth of white U.S. households in 2009 was $113,149, compared with $6,325 for Hispanics and $5,677 for blacks, according to the analysis released Tuesday by the Pew Research Center. Those ratios, roughly 20 to 1 for blacks and 18 to 1 for Hispanics, far exceed the low mark of 7 to 1 for both groups reached in 1995, when the nation's economic expansion lifted many low-income groups to the middle class. The white-black wealth gap is also the widest since the census began tracking such data in 1984, when the ratio was roughly 12 to 1.

LAST WORD: Do you still think Washington, which is made up largely of rich white lawmakers, has the backs of blacks and Hispanics? Nah, they never did. That's why we must stand up on our own two feet and work together. READ MORE: http://pewsocialtrends.org/2011/07/26/wealth-gaps-rise-to-record-highs-between-whites-blacks-hispanics/