Updated: Jul 17, 2022
10 times more!?
The statistics are staggering. According to the 2016 Consumer Science Survey, the average household net worth for white families ($171,000) in our country is 10 times more than that of black families ($17,000). In the Chicagoland metro area, 73% of white families own their home, compared with 44% of black families. In our predominantly black neighborhood of Woodlawn, only 24% of residents own their homes, while 76% are renters.
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