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Alvin Odom -Charles Schwab Bank, Senior Manager – Diverse Markets
Shanta Patton - Regional Vice President - Region XV -NAREB Las Vegas Board
Alex Dixon - President, West Region Purestar
Nicholas Barr - Associate Professor, Social Work, UNLV
Systemic racism has contributed to the persistence of race-based gaps that manifest in many different economic indicators. The starkest divides are in measures of household wealth, reflecting centuries of white privilege that have made it particularly difficult for people of color to achieve economic security. This series of charts begins with a look at the widening of racial wealth gaps in the United States that have coincided with the extreme concentration of U.S. wealth. (Inequality.org)
Look to the Books
The Color of Law by Richard Rothstein
Publication Date: 2017-05-02
Race and Social Problems by Ralph Bangs (Editor); Larry E. Davis (Editor)
The broad initiative seeks to bolster homeownership, increase banking to underserved communities, provide capital to minority-owned businesses, and diversify the bank’s own employee ranks. In total, the largest U.S. bank is pledging $26 billion to various housing initiatives, the bulk of the bank’s financial commitment. The sum is the largest to date committed by a single entity, and comes as the U.S. is roiled by social unrest and the fallout from the coronavirus pandemic.
The black-white income gap in the U.S. has persisted over time. The difference in median household incomes between white and black Americans has grown from about $23,800 in 1970 to roughly $33,000 in 2018 (as measured in 2018 dollars). Even when controlling for educational attainment, there have been troubling insights into this persisting trend. Checkout the other insights in this list by visiting the article.
“We’re all in this together” has become a rallying cry during the coronavirus pandemic. While it is true that COVID-19 has affected everyone in some way, the magnitude and nature of the impact has been anything but universal. Evidence to date suggests that black and Hispanic workers face much more economic and health insecurity from COVID-19 than white workers.
In the United States, racial disparities in wealth are vast, yet their causes are only partially understood. In Being Black, Living in the Red, Conley (1999) argued that the sociodemographic traits of young blacks and their parents, particularly parental wealth, wholly explain their wealth disadvantage.
This Fact Sheet highlights income inequality in Nevada at both the county and metropolitan level. The Tables that follow report disparities in income across 16 Nevada counties, as well as 9 metropolitan areas in the state, as identified by the Economic Policy Institute. To offer a complete comparison, we also present income disparities between the components of the Southwest Megapolitan Triangle: Las Vegas-Henderson-Paradise, NV; Los Angeles-Long Beach-Anaheim, CA; and Phoenix-Mesa-Scottsdale, AZ.
Wealth inequality has always existed, but the extremes we see today are dramatic. In this episode, we look at what’s driving economic inequality in the U.S. and examine how race and zip code affect prosperity.
The racial wealth gap in the United States is shocking: white families have a median wealth nearly 10 times greater than that of Black families. How did we get here, and how can we stop the gap from growing? Wealth equity strategist Kedra Newsom Reeves provides a short history on the origins and perpetuation of racial wealth inequality in the US -- and outlines four ways financial institutions can expand opportunity for Black individuals, families, entrepreneurs and communities.
Discrimination and housing segregation in the United States didn't happened by chance. In this episode, our guests Richard Rothstein, author of the book The Color of Law, and Emmanuel Martinez, data reporter for Reveal, explain how redlining still shapes our cities and affects people of color.