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Study Shows Racial Wealth Gap Grows Wider

A study done by Pew Research Center shows a major gap between the wealth of white families and the wealth of African-American and Hispanic families.

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Study Shows Racial Wealth Gap Grows Wider
Photo Credit: The Pew Research Center

Unfortunately, there has long been a gap between the racial wealth of white families and the wealth of African American and Hispanic families. Since the Great Recession, the gap has worsen making the gap twice than what is used to be.

Racial wealth gap study

According to a study done by the The Pew Research Center, the decline in the housing market is the main cause. The average wealth of a white family in 2009 was 20 times greater than that of an African American family, and 18 times greater than a Hispanic family.

So why such a gap? Rakesh Kochhar, one of the authors of the report said that white households went into “a stronger position and as a result were able to weather the storm”. Indicating one main reason was the real estate market. He explains minority families “had most of their wealth in their homes, so when the housing bubble burst, those households took a bigger hit”

“Especially Hispanics, for example. Sixty-six percent of their net worth derives from home equity,” Kochhar says. “And they are concentrated geographically in parts of the country such as California, Arizona, Florida and Nevada, where the housing downturn was most severe.”

What are your thoughts about the huge gap between white and minorities? Have you seen Dr. Henry Louis Gates Jr. The Two Nations of Black America, where it talks about the social and economic divide between the African American race? Even a segment in CNN : Black in America 3 The Almighty Debt looked at how black households are being hurt by the recession. I have always long thought about the economic divide amongst the different races. Is it because we don’t have the “proper education on finances” or is the “issue” much bigger? Notice my quotation marks.

The issue of institutional racism that many have said has been a thing of past is quite frankly not according to these figures. This has been long shown with the economic and even educational gaps between whites and minorities. I’m not crying out racism, but you have to take a look at all aspects. If I can drive into one neighborhood where there is one group of people and standard of living is sub-par and drive into the next town over where there are mansions, there is a serious problem. The racial wealth gap is something that is not new. In my opinion, the issue is bigger than the real estate market.

What are your thoughts?

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Culture

‘A Different World’ cast set to reunite for 10-City HBCU tour

The tour will kick off Feb. 29 in Atlanta, Georgia, followed by stops in Washington DC, Montgomery, Alabama and more.

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A Different World tour

In celebration of the sitcom’s 35+ year legacy, the cast of ‘A Different World’ will reunite for a national 10-city tour across HBCUs, reports PEOPLE.

A Different World HBCU tour

Darryl M. Bell (Ronald ‘Ron’ Johnson), Charnele Brown (Kimberly ‘Kim’ Reese), Jasmine Guy (Whitley Marion Gilbert Wayne), Kadeem Hardison (Dwayne Cleophus Wayne), Dawnn Lewis (Jaleesa Vinson Taylor), Cree Summer (Winifred ‘Freddie’ Brooks), Glynn Turman (Col. Bradford ‘Brad’ Taylor) and Sinbad (Walter Oakes) will participate on the tour.

The tour will feature panels and other events and will also be joined by producers Debbie Allen and Susan Fales.

Dates

The HBCU tour will kick off Feb. 29 in Georgia at Atlanta University Center, which include Spelman College, Clark Atlanta University, and Morehouse College.

Other locations include Washington, D.C. (hosted by Howard University) and Montgomery, Ala. (hosted by Alabama State University and Tuskegee University). Both will be in April but no date has been released yet.

More dates will be announced soon.


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Education

Spelman College receives $100 million donation, the highest in the college’s history

Spelman College has received its largest donation of $100 million from businesswoman and philanthropist Ronda Stryker and her husband, William Johnston, the chairman of Greenleaf Trust.

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Spelman $100 million
Spelman College historic maker (Broadmoor/Creative Commons 4.0 Wikimedia Commons/https://commons.wikimedia.org/wiki/File:Spelman_College%27s_Georgia_Historic_Marker.jpg)

Spelman College has received its largest donation of $100 million from businesswoman and philanthropist Ronda Stryker and her husband, William Johnston, the chairman of Greenleaf Trust.

$100 million donation for Spelman is a blessing

The $100 million comes as the nation’s oldest historically Black college for women celebrates 100 years since its official name change from Spelman Baptist Seminary in Sept. 1924.

The college says the gift will help retain the best and brightest students by eliminating financial barriers during the admission process.

“We are invigorated and inspired by this incredible act of generosity,” said Dr. Helene Gayle, president of Spelman College during an interview on CBS Mornings.

“This gift is a critical step in our school’s mission to eliminate financial barriers to starting and finishing a Spelman education. We can’t thank Ronda Stryker enough for her selflessness and support as both a trustee and friend. There’s no doubt that Spelman College is better because of her.”

Spelman is Top ranked

Spelman College has been ranked as the #1 Historically Black College and / or University by U.S. News for 17 consecutive years.

The college has a variety of degree/major offerings but they produce the most graduates who pursue a PhD in science, technology, engineering or math, according to The National Science Foundation.

About Ronda Stryker

Ronda Stryker is an American billionaire heiress and granddaughter of Homer Stryker, an orthopedic surgeon and founder of Stryker Corporation.


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Education

Maryland principal accused of making racist and antisemitic comments

A Maryland principal is in hot water over an audio recording that has been making rounds on social media containing racist and antisemitic comments.

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Maryland principal racist comments Pikesville High
Photo by Pixabay: https://www.pexels.com/photo/interior-of-abandoned-building-256395/

A Maryland principal is in hot water over an audio recording that has been making rounds on social media containing racist and antisemitic comments.

Maryland principal accused of making racist comments

In it, a person purported to be Pikesville’s High School principal, can be heard making disparaging comments about the test scores of African American students.

The person on the recording then makes an offensive comment about an African American staff member at the school and members of the Pikesville Jewish community.

Is the audio real?

There is an investigation into the validity of the recording. Some officials believe the audio is fake and is A.I. constructed. Baltimore County schools said they are taking the matter seriously.

Statement from school district

Baltimore County Executive Johnny Olszewski issued a statement in response.

“Hate, discrimination, and prejudice have no place in our community — especially in our schools. The statements being circulated are abhorrent, and my administration is providing our full support to BCPS as they conduct as they conduct a thorough investigation. Following the conclusion of this investigation, I know swift action will be taken to hold those involved accountable.”


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