Wealth Inequality by Race

Source: cnn.com

According to Census Bureau figures, white Americans have 22 times more wealth than blacks -- a gap that nearly doubled during the Great Recession. The median household net worth for whites was $110,729 in 2010, versus $4,995 for blacks, Hispanics, who had a median household net worth of $7,424.

The main reason blacks and Hispanics did not fare as well during the economic downturn is that home equity makes up more of their wealth than it does for whites. The housing bubble that preceded the collapse pushed up homeownership rates among blacks and Hispanics, who relied more heavily on high-cost subprime loans to finance their purchases. As a result, the implosion of the real estate market had a more devastating impact on black and Hispanic communities. Source: cnn