Getting your player ready...
WOODBRIDGE, Va. — Latino families accounted for the largest single decline in wealth of any ethnic or racial group in the country during the recession, according to a study by the Pew Foundation.
The study, based on Census Bureau data, found that the median wealth of Latino households fell 66 percent from 2005 to 2009. By contrast, the median wealth of whites fell 16 percent over the same period. African-Americans saw their wealth drop 53 percent. Asians saw their wealth drop 54 percent.
The declines have led to the largest wealth disparities in the 25 years that the bureau has been collecting the data.
Median wealth of whites is 20 times that of black households and 18 times that of Latinos, the study found.
