Monday, September 28, 2015
Obama's America: Despite three years of supposed economic recovery, black children were as likely to be poor in 2013 as in 2010 — and more likely than at any time since the early 1990s
Almost four out of 10 black children are now growing up in poverty, as against one in nine white children. More than 25% of the black poor now live in areas of concentrated poverty, triple the rate for poor white people. Between 2007 and 2009, black homeowners were 70% more likely to suffer foreclosure than whites. Higher-earning black families were 80% more likely to lose their homes than their white counterparts. The evanescence of black home ownership explains why post-recession the wealth of the median black family tumbled to 1/13th the wealth of the median white family — a disparity wider than any at time in the past quarter century. The income of the median black household dropped 9.2% between 2007 and 2013 — as against 5.6% for the median white household.