Stay Informed!

By Sean Luechtefeld on 07/29/2011 @ 04:00 PM

Tags: Economic Inclusion, Events

Andrea Levere

Earlier today, CFED President Andrea Levere gave a presentation to the National Urban League Convention stressing the critical need to build infrastructures that build assets. Andrea’s address highlighted the fact that rates of asset poverty exceed those of income poverty, especially among some of America’s most vulnerable populations, including communities of color.

There has been a lot of talk this week about the asset disparities for families of color. In her discussion of the burgeoning racial wealth gap, Andrea cited a report released earlier this week by the Pew Research Center, which found that racial disparities in asset ownership are at their highest levels since the mid-1980s.

A few of the key findings of this chilling research that Andrea discussed include:

• The median wealth of white households is 20 times higher than the median wealth of black households and 18 times higher than the median wealth of Hispanic households
• Four times as many Hispanic and black households had zero assets when compared with their white counterparts
• Thirty-five percent of black households and 31% of Hispanic households have zero or negative net worth, compared to 15% of white households

To download a PDF of Andrea’s presentation today in Boston, click here. Then, leave your comments by clicking the link below.

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