Americans grossly underestimate the racial wealth gap between Black and white families

[Yo_Mama_Been_Loggin]

— and it's making it harder to achieve financial equality

They say to fix a problem, first you have to recognize that it exists.

When it comes to the racial wealth gap — that might be an issue. The disparity in money between white and Black Americans has become one of many important topics of public conversation amid the Black Lives Matter movement, but it's a problem that's been around for decades.

From slaveholders accumulating massive wealth to the decimation of Tulsa's "Black Wall Street" to Jim Crow laws, Black people have been routinely denied the opportunity to create wealth in the same way white people have. And many Americans are still unaware of just how bad it is, ongoing research from Yale University shows. That presents a huge problem if there's to be any hope in fixing it.

The median white family had more than 10 times the wealth of the median Black family in 2016, according to the Fed's 2017 "Survey of Consumer Finances." In other words, for every $100 in wealth held by a white family, a Black family has just $10.

Yet, a series of ongoing studies by the Yale School of Management reveal that Americans are largely unaware of this. Most Americans think that for every $100 in wealth held by a white family, a Black family has $90.

https://www.yahoo.com/news/americans-grossly-underestimate-racial-wealth-120000934.html