From your article:
“The facts are brutal,” Hobson says. Between 1992 and 2016, Black college graduates saw their net worth decline by 10%, while the net worth of white college grads rose by 96%, according to a study by the St. Louis Federal Reserve Bank. Adds Rogers, “Black Americans relative to white Americans today are worse off than their grandparents were.”
Wealth is often measured by home ownership. In a 2020 article in Forbes, John Wake stated that from 1940 to 1970 Black home ownership increased from 23% to 42% of the black population — in the face of brutal steps to prevent Black homeownership. Since the “Great Society” in the 1960s, Black home ownership has hardly changed. In 2023 it was 46%. In 1960, 67% of Black children lived in two-parent homes. Today it is 45%. In 2008, then-Sen. Barack Obama said, “But if we are honest with ourselves, we’ll admit that what too many fathers also are is missing — missing from too many lives and too many homes. They have abandoned their responsibilities, acting like boys instead of men.” Perhaps President Obama, Hobson, and Rogers could start a program — BFM, Black Families Matter. That would truly be “Princeton in the nation’s service.”