The Color of Wealth in Los Angeles
Author: Darrick Hamilton, Melany De La Cruz-Viesca, Paul M. Ong, William A. Darity Jr., Zhenxiang Chen
Topic: Financial well-being
Publisher: Federal Reserve System
Location: United States
Format: Report
Content Type: Research
Publication Date: December 31, 2016
The findings in this report from the National Asset Scorecard for Communities of Color (NASCC) survey reveal major disparities in wealth accumulation across various racial and ethnic groups in Los Angeles. Our analysis shows that with respect to types and size of household assets and debt, there are significant differences across race, ethnicity and ancestral origin. The report explores what factors are related to wealth accumulation for particular racial and ethnic groups, such as historical context, local asset markets, and intergenerational wealth transfers. Wealth is the paramount indicator of economic inequality.
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