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HOME OWNERSHIP AND THE WEALTH POSITION OF BLACK AND WHITE AMERICANS *
Author(s) -
Birnbaum Howard,
Weston Rafael
Publication year - 1974
Publication title -
review of income and wealth
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.024
H-Index - 57
eISSN - 1475-4991
pISSN - 0034-6586
DOI - 10.1111/j.1475-4991.1974.tb00911.x
Subject(s) - position (finance) , economics , investment (military) , white (mutation) , labour economics , demographic economics , national wealth , finance , political science , biochemistry , chemistry , politics , law , gene
This paper examines the wealth position of blacks relative to whites, on the basis of data in the Survey of Economic Opportunity. The analysis indicates that at the same levels of both income and wealth blacks consistently invest more in consumer durables, especially housing, than do whites. The paper then explores possible explanations for this finding, suggesting that these investment differences are not solely due to the income and wealth position of blacks, but may be due to a smaller set of investment opportunities institutionally fostered by discriminatory forces.