The racial wealth gap is a nation-wide, long-standing equity issue for Black and non-White Hispanic people. In New Jersey, the wealth gap exceeds the national average, making it even harder for these households to build generational wealth. Without intentional action, this inequity won’t soon end.
The good news is that South Orange and Maplewood are two towns that are taking action to address all kinds of racial inequities. With initiatives like the Wealth Gap Equalizer Loan, the Coalition on Race strives to preserve residential racial integration, as well as to establish policies and practices that make our towns uniquely welcoming and more supportive for all.