The 2008 recession destroyed black wealth at roughly three times the white rate

Evidence

Fast-forward to the Great Black Depression of 2008. Much of the gains of the 1990s were erased. African Americans lost 31 percent of their wealth between 2007 and 2010. White Americans lost 11 percent. By 2009, 35 percent of African American households had zero or negative net worth. According to the Pew Research Center, by 2011, black families had lost 53 percent of their wealth. Just think about it: an entire decade of economic gains wiped away. Gone. This wasn’t just the loss of homes—the primary source of wealth for most African Americans—but lost retirement savings, which shrank by 35 percent from 2007 to 2010. — Eddie S. Glaude Jr., Democracy in Black, 48

Categorization

• QUESTION: The 31-percent vs 11-percent and 53-percent-by-2011 figures would be worth re-verifying against Pew data before citing in print.