A New Study in Chicago Shows How the Dream of Homeownership Was Converted into a Poverty Trap

There’s a reason. Photographer: Spencer Platt/Getty Images

There’s a reason. Photographer: Spencer Platt/Getty Images

One question is -- or should be -- central to any assessment of the state of America: Why, more than a century and a half after slavery ended, does the typical black family remain so much poorer than the typical white family?

A new study on housing in Chicago illustrates a big part of the answer: Generation after generation, the U.S. system of real-estate finance has enriched whites at the expense of blacks.

Read more by Mark Whitehouse at Bloomberg