A report by the Institute on Assets and Social Policy concludes: The Racial Wealth Gap Increases Fourfold [pdf]. The report was authored by Thomas M. Shapiro, Tatjana Meschede, and Laura Sullivan. They found that:
- The wealth gap between whites and African Americans increased more than 4 times, from $20,000 to $95,000.
- Middle income white households had greater gains in financial assets than high income African Americans; by 2007, they had accumulated $74,000, whereas the average high income African American family owned only $18,000.
- At least 25% of African American families had no assets at all to turn to in times of economic hardship.