Black Americans’ Median Wealth Could Disappear in One Generation

It’s no secret that, as the saying goes, “The rent is too damn high.” Across the nation, housing is becoming increasingly expensive for many Americans. But the story of the present-day housing crisis is not just a story of rising rents; it’s also a story of systemic racism. Today’s rising housing prices exacerbate the racial wealth gap in the US by making it more difficult for Black people to accumulate wealth since the 2008 recession, thus further decimating Black wealth.

How Barack Obama Failed Black Americans

Born in 1953, I am a child of the waning years of legal segregation in the United States. My parents, on the other hand, spent about 40 years of their lives under Jim Crow, and all of my grandparents lived most of their lives under official American apartheid. At the time of Barack Obama’s election to the presidency in 2008, my mother and all four of my grandparents were deceased. But my father was alive and well—and absolutely thrilled to have lived to see the election of a black man as president of the United States. Usually deeply cynical about American politics and politicians, my dad could not comprehend my deep reservations about Barack Obama’s leadership. Indeed, he viewed any criticism of Obama as bringing aid and comfort to white supremacists.