Black and latino families fare much better in recent years

Washington Post - Nearly all American families saw substantial gains in wealth from 2013 to 2016, according to new data released Wednesday from the Federal Reserve. African-Americans and Hispanic families and people without college degrees had the fastest rise, a sign that the economic gains are finally spreading to all Americans.

Black households went from $13,600 in net worth in 2013 to $17,600 in 2016, a gain of almost 30 percent. Hispanic households went from $14,200 to $20,700 over the same time frame, a 46 percent increase, the Fed reported. As more and more minorities found jobs, these families were able to save money and pay off debt.