Inter Generational Wealth News Today

Steps for preserving and passing on wealth to future generations.

Affordability we actually got away from affordability. >> it is a reminder of the ways federal housing made it possible for working class americans to get a hold of the wealth that accumulated in real estate. to use it for a basis for upward mobility to pass it on to their kids and grandkids. it was after all his white grandfather. >> right. im with you. it is a reminder that public policy made it possible for a specific segment of working class americans to live comfortably near where they work...

Be affordable for the average poor family in new york by any stretch. >> so i wonder if that kind of disconnect between our notion about who working class people are, if that has always been a problem of government policy or this is something new. i wanted to listen to president obama talking about his grandfather who was able to take advantage of an fha loan post world war ii. lets listen. >> when my grandfather came back from world war ii the government gave a chance to buy a loan for his firs...

Communities have no resources, no assets. on the one hand i want to tell the story of massive in equality but i want to tell about vibrant communities even in the context of this poverty. >> if you think about baltimore, it has produced some of the nations greatest african-americans. thurgood marshall came out of baltimore. >> the same as freddie gray. >> there are people who can tran accepted but there are so many who cannot because of everything you just explained. it is not just integration f...

The idea of growing up getting a good job. but i dont know that we are as clear about the ways that wealth is -- that it compounds over the years and becomes basically an impossibility to close in a generation. >> the wealth gap is enormous. african-americans have 4% of the household wealth of whites today. thats the consequence of generations of systemic housing and segregation. we own most of our assets in the form of our real estate. we pass it down to our kids. we take loans off of it to pay...

Present day winchester. in other words, freddie grays neighborhood. yellow means the area will likely be infiltrated from an unpopular area. marking the black areas in red, known as red lining. the federal loan guarantees made it more affordable for certain families usually white families to own homes. the neighborhoods where our banks wouldnt lend and where black families were forced to live. most of the weight of middle class families in this country is the direct result of home ownership. and...

Subprime bubble burst and almost overnight so much of that home equity that household wealth was wiped out. the median net worth of families, all families dropped 40%. although the wealth of white families has leveled off, even growing slightly in recent years, african-american families have continued to lose wealth. from 2010 to 2013 the median wealth of black households dropped by a third. and this is supposed to be the recovery. the gap between white and black wealth is the highest its been i...