The author never explained why middle-class blacks COULD NOT accumulate wealth with same income whites. So same income whites may start out with more ‘assets’ than blacks, but with proper and wise investment, who's to say the blacks can't be just as wealthy when they retire.
Because it is BS.
I used to know a guy years ago who was black. He was a really good guy and had made something of himself, he worked two jobs to support his family. His wife wasn’t comfortable living in a white neighborhood so he bought a house in a black neighborhood. While my house appreciated, he was chasing off thugs and watching his house lose value.
It isn’t all a racial thing, it’s also cultural thing. It wasn’t anything he was doing in particular and his falling real estate value had nothing to do with his personal behaviour.
Exactly. My total wealth on graduating from law school consisted of a used car, one shotgun, an electric typewriter, and a modest wardrobe, plus a $700 (that’s right, seven hundred dollars; it was 1967) student loan debt. Much of the wealth I’ve acculmulated over the years has been by saving from muy earnings. Race had little, if anything, to do with that.