Citylimits, February 6, 2025, Tale of Two Cities: Report Finds Stark Racial Wealth Gap Among New Yorkers
“The gains in average wealth of white households have come from multiple sources including business assets and rental properties while Black and Hispanic households’ gains have come overwhelming[ly] from home equity,” said Joseph Dean, racial economic junior research specialist for the National Community Reinvestment Coalition. New York City mirrors that trend. “Black and Latino New Yorkers are less likely to hold most asset types than Asian and white New Yorkers,” reads the Robin Hood report.
