Summary
"It's generally thought that all people in Massachusetts are doing well, but a lot of people are not," said state Sen. Jamie Eldridge, D-Acton, co-chair of a special commission founded to study asset development in Massachusetts. "The disparities are quite significant, based on race and income. It means diat a whole large group of Massachusetts residents don't have a shot at the American dream."
In Massachusetts, the median net worth of white households is $2 13,755, while the median for minority households is just $6,694. Those figures put the state in 3 1st place in the nation in the "net worth by race" category. But overall, the report gave the state an "A" grade due to its high rankings in areas such as education and health insurance."In my view, it's very compelling that we're getting a grade of A and yet there are areas we're very weak in," [Margaret Miley] said. "We come in 31st in the country on net worth by race, 32nd for net worth by income, 32nd in net worth by gender. That suggests that we have a lot of wealth, but it's very poorly distributed."See the full content of this document
Extract
Report Reveals Racial Gap in Wealth in Mass.
A new report on the financial stability of American households reveals stark disparities in net worth and asset ownership between whites and minorities in Massachusetts.
The "2009-2010 Assets & Opportunities Scorecard" was released last Tuesday by ...See the full content of this document
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