Posted 10/18/2023, 9:10:00 PM
Americans' Wealth Soared During Pandemic But Inequality Persists
- Americans' net worth surged 37% between 2019-2022, the largest increase on record
- Income inequality widened and affordable housing fell to historic lows during the pandemic
- Black and Hispanic families saw faster wealth growth but still lag far behind white families
- Financial vulnerability declined with lower debt ratios and payment-to-income ratios
- Higher interest rates disproportionately impact Black Americans and those with credit card debt
