Racial Wealth Gap Essay

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After the Second World War there was a large increase in demand for new housing in the United States. From 1934 to 1962 the US government backed $120 billion in home loans with 98% of that money going to white homebuyers. These homes bought by whites increased in value over time, allowing for increased wealth and opportunity for the owners and children of homeowners. While, African Americans who had not been given loans to buy homes were left without a chance at opportunity and a chance to accumulate wealth. Over time discriminatory policies have created a racial wealth gap in the United States because minorities are not afforded the same opportunities in wealthier neighborhoods and whites are more likely to be given home loans to buy and own …show more content…

In affluent school districts which in most if not all cases are predominantly white students have “the best teachers, most up-to-date textbooks and computers, and superior academic facilities.” School districts made up of mostly wealthy and white students have the money to pay for superior resources and staff. However, struggling schools in equally struggling school districts do not have the money to pay for better resources and staff to improve the education of economically disadvantaged and racial minority students. Students inside of these economically disadvantaged school districts are left at a large disadvantage when it comes to competing for a higher education with wealthy white students with a high quality education. These disadvantaged students are left to fend for themselves without the support system and quality resources that are afforded to wealthy white students when looking for future opportunities such as applying for college. African Americans and other minorities restricted from buying homes and building equity has kept them in a state where they have little to no chance to improve their condition. Even if the people in low-income neighborhoods are very talented and have a large amount of potential they have no way to exercise and build on that potential because they don’t have an opportunity to attain an

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