This paper analyzes trends in the income, net worth, and homeownership of non-Hispanic African-Americans and Hispanics relative to non-Hispanic whites in the United States from 1989 to 2016 and the reasons for those trends using data from the Survey of Consumer Finances. The wealth gap between African-American and white families was much the same in 2007 as in 1989 but it lessened considerably for Hispanics. The net worth of both minorities declined sharply relative to that of non-Hispanic whites from 2007 to 2016 and that decline was due largely to the lower rate of return on wealth of these two groups during the 2007–2010 period and largely due to the larger dissaving of these two groups during the 2010–2016 period. The paper also finds that the wealth gap is much smaller if net worth is augmented by pension wealth and especially by Social Security wealth.

中文翻译：

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自 1989 年以来的非裔美国人和西班牙裔收入、财富和房屋所有权

本文分析了 1989 年至 2016 年美国非西班牙裔非洲裔美国人和西班牙裔美国人相对于非西班牙裔白人的收入、净资产和房屋拥有率的趋势，以及使用消费者财务调查数据的这些趋势的原因. 2007 年非裔美国人和白人家庭之间的贫富差距与 1989 年大致相同，但西班牙裔家庭的贫富差距明显缩小。从 2007 年到 2016 年，与非西班牙裔白人相比，这两个少数族裔的净资产急剧下降，下降的主要原因是这两个群体在 2007 年至 2010 年期间的财富回报率较低，主要是由于较大的这两组人在 2010-2016 年期间的储蓄。