Center on Race and Wealth
Howard University
College of Arts and Sciences Department of Economics
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The Center on Race and Wealth seeks to enrich the dialogue, research, and policy formation with regard to asset building, wealth accumulation, and racial wealth disparities. It supports the Ford Foundation’s initiative on Building Economic Security over a Lifetime by assessing the research and technical assistance needs of the Initiative’s state and regional asset building coalition grantees and enlisting a team of experienced researchers at universities across the country to conduct studies on asset building issues of interest to the coalitions. The work of these academic researchers is supported by research assistants from the graduate economics program at Howard University. The Center’s location in an economics department and in Washington, DC uniquely positions it to bring a wide array of economists and public policy advocates into the debate.

At least 25% of African American families had no assets to turn to in times of economic hardship.
– Institute on Assets and Social Policy May 2010

An estimated 41.7% of Black households and 37.4% of Latino households lack enough net worth to subsist for three months at the poverty level without income, as compared to 16.4% of White households.
– United for a Fair Economy January 2011

Median wealth for single Black women ages 36-49 was $5 compared to $42,600 for single White women in this same age group.
– Corporation for Enterprise Development Spring 2010

An estimated 21.7% of Black households and 19.3% of Hispanic households are unbanked compared to 3.3% of Whites.
– Federal Deposit Insurance Corporation February 2009

In 2009, the homeownership rate for White households averaged 74.8%, compared to 46.3% for Black households.
– U.S. Census Bureau February 2010

African Americans were roughly 20% more likely to go into foreclosure than similarly situated Whites. 
– Jayasundera, Silver, Anacker, & Mantcheva 2010

An estimated 60.4% of White women receive retirement income from assets compared to 25.4% of Black women.
– Corporation for Enterprise Development Spring 2010

Based on the Housing Opportunity Index, 80.3 % of White families could afford a home in 2010, compared to 53% of Black families and 51 % of Hispanic families.
– National Home Builders, 2011

College of Arts and Sciences Department of Economics