Single black women ages 36-49 have a median wealth of $5

[w¡n9Nµ7 §£@¥€r 123]

Women of all races bring home less income and own fewer assets, on average, than men of the same race, but for single black women the disparities are so overwhelmingly great that even in their prime working years their median wealth amounts to only $5.

...

"It's rather shocking," said Meizhu Lui, director of the Closing the Gap Initiative based in Oakland, Calif., who contributed to the report "Lifting as We Climb: Women of Color, Wealth and America's Future."

Among the most startling revelations in the wealth data is that while single white women in the prime of their working years (ages 36 to 49) have a median wealth of $42,600 (still only 61 percent of their single white male counterparts), the median wealth for single black women is only $5.

...

For all working-age black women 18 to 64, the financial picture is bleak. Their median household wealth is only $100. Hispanic women in that age group have a median wealth of $120.

...

Married or cohabitating white women have a median wealth of $167,500. Married or cohabitating black women have a median net worth of $31,500.

...

Rather than strictly comparing income, researchers in the Insight study looked at the wealth gap. The current economic crisis has shown that a person's wealth affects not only retirement security, but also a person's ability to handle financial setbacks such as a job loss or a health emergency.

http://www.post-gazette.com/pg/10068/1041225-28.stm

[scandal 951]

Now that Walmart put them on sale, at least black women can buy a black Barbie doll with their net worth.

[Danno 1,228]

Jeez, it's hard to fathom how the very group most ravaged by Liberalism..... still gives the Democrat party the highest rate of voter loyalty of any segment in the country, around 95%.

I would not look for these dismal numbers to change anytime soon.

[scandal 951]

Jeez, it's hard to fathom how the very group most ravaged by Liberalism

:rofl: :rofl:

[alienlovechild 75]

:rofl: :rofl:

Liberals don't really care about the poor state of the black community as well they keep voting Democrat no matter how bad it gets.

[scandal 951]

Liberals don't really care about the poor state of the black community as well they keep voting Democrat no matter how bad it gets.

Keep telling yourself that.

[웃 910]

the median wealth for single black women is only $5.

...

For all working-age black women 18 to 64, the financial picture is bleak. Their median household wealth is only $100. Hispanic women in that age group have a median wealth of $120.

...

I don't believe this. Their rims are worth more than $5, c'mon now

[Trumplestiltskin 5,791]

It would be fair to suggest that neither of the parties represents the interests of the poor.

To suggest that this is somehow all just a "liberal" thing is more disingenuous garbage - as if vague ideological concepts are the enemy. Ridiculous.

[MrsCat 6]

I read the article in its entirety. The number just seems incredulously low at $5 for total wealth.

I know that the article stated some of it is due to black women have taken sub-prime mortgages more frequently than any other demographic.

I wonder if the $5 is so low, because so many black women proportionately upside down in their mortgages ie: net wealth is actually -$200,000, and this offsets anyone else who has net wealth with a positive balance sheet.

I dunno, the numbers just seem a little off and need a little more explanation for my liking.

Edited March 14, 2010 by MrsCat

[mawilson 2,133]

It's probably 5 Australian dollars, which is, like, $5,000,000 American.

[lucyrich 20]

I read the article in its entirety. The number just seems incredulously low at $5 for total wealth.

I know that the article stated some of it is due to black women have taken sub-prime mortgages more frequently than any other demographic.

I wonder if the $5 is so low, because so many black women proportionately upside down in their mortgages ie: net wealth is actually -$200,000, and this offsets anyone else who has net wealth with a positive balance sheet.

I dunno, the numbers just seem a little off and need a little more explanation for my liking.

It did say MEDIAN wealth. That means that half the people in the group have more than $5.00 wealth, and half have less. I'm guessing that most who have less are in debt. $5.00 is close enough to zero that it's probably accurate to say that about half the sample group have positive net worth and half have negative net worth.

The median doesn't tell you much about the average. Most of those who are above the net worth may be very far above it, while most of those who are below it might be just slightly below it. This would mean the average (mean) is much higher than the median. It's typical for wealth distributions to be skewed this way. Or the reverse could be true -- those who are in debt could be really deep in debt, and those with savings might only have a teeny bit.

[w¡n9Nµ7 §£@¥€r 123]

I wonder if the $5 is so low, because so many black women proportionately upside down in their mortgages ie: net wealth is actually -$200,000, and this offsets anyone else who has net wealth with a positive balance sheet.

I dunno, the numbers just seem a little off and need a little more explanation for my liking.

See this - the full paper - http://www.insightcced.org/uploads/CRWG/Li...-Spring2010.pdf

The paper lists six categories of reasons for the wealth gap. Subprime mortgages are one of them.

[MrsCat 6]

Thank you gentlemen.

[w¡n9Nµ7 §£@¥€r 123]

It did say MEDIAN wealth. That means that half the people in the group have more than $5.00 wealth, and half have less. I'm guessing that most who have less are in debt. $5.00 is close enough to zero that it's probably accurate to say that about half the sample group have positive net worth and half have negative net worth.

Yup.

From the full paper, linked in a prior post.

The precarious financial situation of women of color is also evident when looking at those with zero or negative wealth, (negative wealth occurs when the value of one’s assets is lower than the value of their debts). Nearly half of all single black and Hispanic women have zero or negative wealth (see Figure 2).

[MrsCat 6]

I guess what my thought is, I would like to see the modal values. Where on the scale the most prevalent values are, since I am sure it cannot be $5.00.

I'm reading the study, the modal values may be in there.

I wonder if they control for a black woman married to a white man how that affects wealth?