- Written by Sìmone Stancil
- Published on 26th August 2021
Photo Credit: Thomas Barwick- The Center for American Progress (CAP) analyzed the Black-white wealth gap before and during the pandemic and found that Black households experienced greater financial emergencies with fewer economic resources, ultimately increasing disparities.
- The report found that between Aug. 2020 and March 2021, 17.6% of Black homeowners fell behind on their mortgage payments as opposed to 6.9% of white homeowners.
- “Many homeowners were working class workers who lost their jobs…so loss of income means that you’re going to fall behind on your payment,” Andre M. Perry, a senior fellow with the Brookings Metropolitan Policy Program and author of the new book ‘Know Your Price: Valuing Black Lives and Property in America’s Black Cities’, said. “Black people don’t have the same amount of wealth to absorb these economic shocks as our white peers.”
