Filed under: Dr. Boyce Money
The church's mortgage is $6,500 and parishioners are now meeting in a local elementary school.
The challenges being faced by Flat Rock are being felt nation-wide. Quite a few black churches have found themselves to be victims of the recent foreclosure crisis and are working to find a way to pay the bills. African Americans at large were disproportionately impacted by the economic downturn and many of us are on the brink of homelessness. Not only do African Americans have the highest unemployment rates in America, we have less wealth to fall back on in the event of economic problems.
The average white family home is worth $60,000 more than that of the average African American family. Also, less than half of all black families own a home, compared to three-quarters of all white families. Additionally, a Brandeis University study found that while white family wealth rose from $22,000 to $100,000 over the past 23 years, black family wealth rose by just $3,000 to $5,000. Such disparities in wealth not only apply to individuals and families, but also to our ability to sustain institutions such as churches and universities.
It's been made clear that the gap in wealth between black and white Americans will never be addressed by our political leaders. But it is important that all of us pick up the torch on this important issue to ensure that it is a point of discussion among those who can help to manage the imbalance. Part of the disparity can be addressed by attacking financial literacy within the black community (so our kids aren't getting financial advice from rappers who tell them to waste their money on stupid material items). The other part of the imbalance comes from systemic policies in both government and other American institutions that discriminate against minorities and keep us in the poor house. These institutions and norms must be challenged on a consistent basis in order for us to make things right for our children.
Racial inequality is not maintained by people simply choosing to be racist. We are also perpetuating racial inequality by supporting historic processes and procedures of institutions built on a racist foundation. At the end of the day, we must all work to help clean up the mess in order for our country to move forward.
Dr. Boyce Watkins is the founder of the Your Black World Coalition and a Scholarship in Action Resident of the Institute for Black Public Policy. To have Dr. Boyce commentary delivered to your email, please click here.