Sobering Truth: Black Households Lose Half Of Wealth Despite Having College Degrees

Discussion in 'General' started by hand2handking, Nov 13, 2015.

  1. hand2handking

    hand2handking

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    thoughts? [​IMG]
     
  2. 360waves

    360waves

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    Their land their rules.
     
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  3. mangudai954

    mangudai954

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    Link?
     
  4. dlee23

    dlee23

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    difference between buying your house in the 2000s because of lenient (shady) banks and working with your house/land thats been in your family for 2 generations bought dirt cheap. not to mention blacks and hispanics who went to school on loans that are accruing interest vs mom and dad helping you out
     
    Last edited: Nov 13, 2015
  5. utvol23

    utvol23

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    because every white person comes from a wealthy family who can pay for all their college and every white person lives in a house passed down through generations?

    The disparity is real though
     
    Last edited: Nov 13, 2015
  6. yeah

    yeah

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    This was primarily due to faltering home values, not a loss of money per se. Whether or not they had degrees isn't nearly as reflective as the cross streets of their respective homes.

    Dunno why they're making the college degree portion such a big deal.
     
  7. don adidada

    don adidada

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    I got the vibe they were trying to detract from the value of a college degree...IDK what you say, education is the key, formal or informal.
     
  8. luckyluchiano

    luckyluchiano

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    Due to housing discrimination in the 40s-50s whites were able to get homes dirty cheap with govt subsidies while blacks were not allowed to get these loans and grants. Whites were able to get homes for sh 50k that over time became "valued" at 300k while blacks were shut out of this. When this ended homes were already inflated in cost and whites were able to have a ton of equity thus creating wealth for non wealthy families.
     
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  9. crod6926

    crod6926

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    :|

    you're kidding i hope.
     
  10. dathbgboy

    dathbgboy

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    Ding ding ding, and cats think that what happened in the 50's and such doesn't still affect people today. >D

    Once the recession hit, and jobs were lost, those in power looked to their own even more before they looked to those that didn't look like them.
     
    Last edited: Nov 13, 2015
  11. hand2handking

    hand2handking

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  12. crcballer55

    crcballer55

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    That explains the Boomers, but what about the Gen-Xers and Millenials?

    What I want to see from the study is the breakdown of debt levels used to go to college and the types of degrees obtained. Just because you "got an education" doesn't mean that all education is equal. Equally, if someone went to school with no debt, whereas another went to school with a significant amount of debt, that will cut significantly into future wealth building potential due to the time value of money.
     
  13. gamble

    gamble

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    ^^ missing the entire point :lol :{
     
  14. crcballer55

    crcballer55

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    Instead of reading the blog, I went straight to the source:
     
  15. dipsetgeneral

    dipsetgeneral

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    Can we ever win?
     
  16. andretti

    andretti

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    no,apparently.
     
  17. teamjordan79

    teamjordan79

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    sucks that "education" is a debt trap in disguise for many folks.

    And it's partially everyone's fault, from the govt giving loans to everyone with a pulse (do we really need that many psych majors?) to colleges milking students to parents and their kids being financially illiterate. Sprinkle in a little bigotry and we get this cluster****
     
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  18. zapatohead408

    zapatohead408

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    Talking about property values, there's Willow Glen in San Jose. Mainly white area and rather wealthy. Their home values didn't drop during the recession. Minorities weren't allowed to live there a few decades ago. If you were Latino or black you lived on the other side of the rail road tracks.