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COMMENTARY: Black families have a dime for every dollar held by Whites

NNPA NEWSWIRE — Recent research by the National Low-Income Housing Coalition on housing affordability found that more than 8 million Americans spend half or more of their incomes on housing, including over 30 percent of Blacks, and 28 percent of Hispanics.

Published

6 years ago

April 25, 2019

Oakland Post

By Charlene Crowell, NNPA Newswire Contributor

If you’re like me, every time you hear a news reporter or anchor talk about how great the nation’s economy is, you wonder what world they are living in. Certainly, these journalists are not referring to the ongoing struggle to make ends meet that so much of Black America faces. For every daily report of Wall Street trading, or rising corporate profits, you’re reminded that somebody else is doing just fine financially.

To put it another way, ‘Will I ever get past my payday being an exchange day…when I can finally have the chance to keep a portion of what I earn in my own name and see how much it can grow?’

When new research speaks to those who are forgotten on most nightly news shows, I feel obliged to share that news – especially when conclusions find systemic faults suppress our collective ability to strengthen assets enough to make that key transition from paying bills to building wealth.

Ten Solutions to Close the Racial Wealth Divide is jointly authored by the Institute for Policy Studies, Ohio State University’s Kirwan Institute for the Study of Race and Ethnicity, and the National Community Reinvestment Coalition. This insightful and scholarly work opens with updates on the nation’s nagging and widening racial wealth divide. It then characterizes solutions offered as one of three approaches: programs, power, and process.

According to the authors, programs refer to new government programs that could have a major impact on improving the financial prospects of low-wealth families. Power refers to changes to the federal tax code that could bring a much-needed balance to the tax burden now borne by middle and low-income workers. Process refers to changes to the government operates in regard to race and wealth.

“For far too long we have tolerated the injustice of a violent, extractive and racially exploitive history that generated a wealth divide where the typical black family has only a dime for every dollar held by a typical white family,” said Darrick Hamilton, report co-author and executive director of the Kirwan Institute for the Study of Race and Ethnicity at The Ohio State University.

From 1983-2016, the median Black family saw their wealth drop by more than half after adjusting for inflation, compared to a 33 percent increase for the median White households. Keep in mind that these years include the Great Recession that stole nearly $1 trillion of wealth from Black and Latinx families, largely via unnecessary foreclosures and lost property values for those who managed to hold on to their homes.

Fast forward to 2018, and the report shares the fact that the median white family had 41 times more wealth than the median Black family, and 22 times more wealth than the median Latinx family. Instead of the $147,000 that median white families owned last year, Black households had $3,600.

When Congress passed tax cut legislation in December 2017, an already skewed racial wealth profile became worse.

“White households in the top one percent of earners received $143 a day from the tax cuts while middle-class households (earning between $40,000 and $110,000) received just $2.75 a day,” states the report. “While the media coverage of the tax package and the public statements of the bill’s backers did not explicitly state that it would directly contribute to increasing the racial wealth divide, this was the impact, intended or otherwise.”

With the majority of today’s Black households renting instead of owning their homes, escalating rental prices diminish if not remove the ability for many consumers of color to save for a home down payment. As reported by CBS News, earlier this year, the national average monthly cost of fair market rent in 2018 was $1,405.

Recent research by the National Low-Income Housing Coalition on housing affordability found that more than 8 million Americans spend half or more of their incomes on housing, including over 30 percent of Blacks, and 28 percent of Hispanics.

Homeownership, according to the Center for Responsible Lending, remains a solid building block to gain family wealth. But with an increasing number of households paying more than a third of their income for rent, the ability to save for a home down payment is seriously weakened. CRL’s proposed remedy in March 27 testimony to the Senate Banking Committee is to strengthen affordable housing in both homeownership and rentals. To increase greater access to mortgages, CRL further advocates low-down payment loans.

“The nation’s housing finance system must ensure access to safe and affordable mortgage loans for all creditworthy borrowers, including low-to-moderate income families and communities of color,” noted Nikitra Bailey, a CRL EVP. “The lower down payment programs available through FHA and VA, provide an entry into homeownership and wealth-building for many average Americans.”

“Government-backed loans cannot be the only sources of credit for low-wealth families; they deserve access to cheaper conventional mortgages,” added Bailey. “Year after year, the annual Home Mortgage Disclosure Act data reveals how consumers of color, including upper-income Black and Latinx households are disproportionately dependent on mortgages that come with higher costs. Our nation’s fair lending and housing finance laws require that the private mortgage market provide access for low-wealth families. We need additional resources for rental housing to address the affordability crisis that many working families face.”

There’s really no point in continuing to do the same thing while expecting a different result. When the status quo just isn’t working, change must be given a chance.

Charlene Crowell is the Center for Responsible Lending’s deputy director of communications. She can be reached at Charlene.crowell@responsiblelending.org.

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#NNPA BlackPress

Black Feminist Movement Mobilizes in Response to National Threats

BLACKPRESSUSA NEWSWIRE — More than 500 Black feminists will convene in New Orleans from June 5 through 7 for what organizers are calling the largest Black feminist gathering in the United States.

Published

2 days ago

May 30, 2025

Stacy M. Brown

By Stacy M. Brown
Black Press USA Senior National Correspondent

More than 500 Black feminists will convene in New Orleans from June 5 through 7 for what organizers are calling the largest Black feminist gathering in the United States. The event, led by the organization Black Feminist Future, is headlined by activist and scholar Angela Y. Davis. Paris Hatcher, executive director of Black Feminist Future, joined Black Press USA’s Let It Be Known to outline the mission and urgency behind the gathering, titled “Get Free.” “This is not just a conference to dress up and have a good time,” Hatcher said. “We’re building power to address the conditions that are putting our lives at risk—whether that’s policing, reproductive injustice, or economic inequality.” Hatcher pointed to issues such as rising evictions among Black families, the rollback of bodily autonomy laws, and the high cost of living as key drivers of the event’s agenda. “Our communities are facing premature death,” she said.

Workshops and plenaries will focus on direct action, policy advocacy, and practical organizing skills. Attendees will participate in training sessions that include how to resist evictions, organize around immigration enforcement, and disrupt systemic policies contributing to poverty and incarceration. “This is about fighting back,” Hatcher said. “We’re not conceding anything.” Hatcher addressed the persistent misconceptions about Black feminism, including the idea that it is a movement against men or families. “Black feminism is not a rejection of men,” she said. “It’s a rejection of patriarchy. Black men must be part of this struggle because patriarchy harms them too.” She also responded to claims that organizing around Black women’s issues weakens broader coalitions. “We don’t live single-issue lives,” Hatcher said. “Our blueprint is one that lifts all Black people.”

The conference will not be streamed virtually, but recaps and updates will be posted daily on Black Feminist Future’s YouTube channel and Instagram account. The event includes performances by Tank and the Bangas and honors longtime activists including Billy Avery, Erica Huggins, and Alexis Pauline Gumbs. When asked how Black feminism helps families, Hatcher said the real threat to family stability is systemic oppression. “If we want to talk about strong Black families, we have to talk about mass incarceration, the income gap, and the systems that tear our families apart,” Hatcher said. “Black feminism gives us the tools to build and sustain healthy families—not just survive but thrive.”

Stacy M. Brown

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#NNPA BlackPress

Hoover’s Commutation Divides Chicago as State Sentence Remains

BLACKPRESSUSA NEWSWIRE — Hoover was convicted of murder and running a criminal enterprise. Although some supporters describe him as a political prisoner, the legal and public safety concerns associated with his name remain substantial.

Published

3 days ago

May 29, 2025

Stacy M. Brown

By Stacy M. Brown
Black Press USA Senior National Correspondent

The federal sentence for Gangster Disciples founder Larry Hoover has been commuted, but he remains incarcerated under a 200-year state sentence in Illinois. The decision by Donald Trump to reduce Hoover’s federal time has reignited longstanding debates over his legacy and whether rehabilitation or continued punishment is warranted. The commutation drew immediate public attention after music executive Jay Prince and artist Chance the Rapper publicly praised Trump’s decision. “I’m glad that Larry Hoover is home,” said Chance the Rapper. “He was a political prisoner set up by the federal government. He created Chicago Votes, mobilized our people, and was targeted for that.”

But Hoover, the founder of the Gangster Disciples, is not home—not yet. Now in federal custody at the Florence Supermax in Colorado, Hoover was convicted of murder and running a criminal enterprise. Although some supporters describe him as a political prisoner, the legal and public safety concerns associated with his name remain substantial. “There is a divide in the Black community here,” said Chicago journalist Jason Palmer during an appearance on the Let It Be Known morning program. “Some view Hoover as someone who brought structure and leadership. Others remember the violence that came with his organization.” Palmer explained that while Hoover’s gang originally formed for protection, it grew into a criminal network responsible for extensive harm in Chicago. He also noted that Hoover continued to run his organization from state prison using coded messages passed through visitors, prompting his transfer to federal custody.

Illinois Gov. J.B. Pritzker, who is widely considered a potential 2028 presidential contender, has not issued a statement. Palmer suggested that silence is strategic. “Releasing Hoover would create enormous political consequences,” Palmer said. “The governor’s in a difficult spot—he either resists pressure from supporters or risks national backlash if he acts.” According to Palmer, Hoover’s federal commutation does not make him a free man. “The federal sentence may be commuted, but he still has a 200-year state sentence,” he said. “And Illinois officials have already made it clear they don’t want to house him in state facilities again. They prefer he remains in federal custody, just somewhere outside of Colorado.”

Palmer also raised concerns about what Hoover’s case could signal for others. “When R. Kelly was convicted federally, state prosecutors in Illinois and Minnesota dropped their charges. If a president can commute federal sentences based on public pressure or celebrity support, others like R. Kelly or Sean Combs could be next,” Palmer said. “Meanwhile, there are thousands of incarcerated people without fame or access to public platforms who will never get that consideration.” “There are people who are not here today because of the violence connected to these organizations,” Palmer said. “That has to be part of this conversation.”

Stacy M. Brown

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#NNPA BlackPress

WATCH: Five Years After George Floyd: Full Panel Discussion | Tracey’s Keepin’ It Real | Live Podcast Event

Join us as we return to the city where it happened and speak with a voice from the heart of the community – Tracey Williams-Dillard, CEO/Publisher of the Minnesota Spokesman-Recorder.

Published

4 days ago

May 28, 2025

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https://youtube.com/watch?v=OsNLWTz6jU0&feature=oembed

May 25, 2020. The world stopped and watched as a life was taken.

But what has happened since?

Join us as we return to the city where it happened and speak with a voice from the heart of the community – Tracey Williams-Dillard, CEO/Publisher of the Minnesota Spokesman-Recorder.

She shares reflections, insights, and the story of a community forever changed. What has a year truly meant, and where do we go from here?

This is more than just a date; it’s a moment in history. See what one leader in the Black press has to say about it.

Recorded live at UROC in Minneapolis, this powerful discussion features:

Panelists: