How Blacks Pay For Racial Disparity

Racial disparity is not just unfair or unpleasant, it makes Black people lose millions every year.

Recent PBS report telling that the dwellers of minority neighborhoods have to pay up to 30 percent more for car insurances shocked many. But the list doesn’t end here. There quite many things that cost Blacks more than whites. This information used to be carefully withheld from public attention but we think it’s time to reveal it.

As you can guess quite many Black and Latino neighborhoods suffer from poverty. It is caused by the fact that, according to Pew Research Center, Black and Hispanic men earn under 75 percent as much as white men, so the young people from such communities have only one way to get to college – apply for a bank loan. And you won’t be surprised to know that Black graduates have to cope with twice bigger student debts than their white counterparts.

As a result, the young people from such communities have only one way to get to college – apply for a bank loan. And you won’t be surprised to know that Black graduates have to cope with twice bigger student debts than their white counterparts.

There are rather many stories about the auto loans which cost Black borrowers $250 more in interest than similar white borrowers between 2011 and 2013, Department of Justice reports. Some of these stories end with settled lawsuits but does it help much? Do you remember JP Morgan?

A study by Duke University also showed that Black and Hispanic homeowners paid 3.5 percent more for comparable homes than white homeowners.

We are trying to believe that slavery ended quite long ago but while racial disparity exists and white benefit from Blacks so boldly nobody can be 100 percent sure.

 

 

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