From 2000 to 2015, the state lost nearly 800,000 residents with incomes near or below the poverty line. Nearly three-quarters of those who left California since 2007 made less than $50,000 annually. The leading destination for California’s poor? Texas.
The city's white households have a median net worth — the value of their assets minus their debts — of about $250,000. The median net worth of black households: zero. And almost 80 percent of white families own a home, while just a third of black families do ... that means blacks have much less ability than whites to pass wealth on to their children — perpetuating the racial wealth gap ... Whites are more likely to get help to buy a house or more likely to get help to pay for education.
Relative to other income groups, higher–income households own more homes and own homes of greater value. Nearly three–fourths of households with incomes higher than $80,000 own homes, compared to just over one–third of households with incomes less than $50,000. (California’s median household income is $61,000.) In addition, the typical home of a homeowner earning $80,000 or more is worth $500,000, compared to $275,000 for homeowners with incomes less than $50,000.
We have many celebrations of the Civil Rights Movement and its heroes, but we do very little to explain to young people why that movement was so necessary. Throughout our nation, this fear of confronting the past makes it more difficult to address and remedy the ongoing existence of urban ghettos, the persistence of the black-white achievement gap, and the continued under-representation of African Americans in higher education and better-paying jobs.