While many cities feel the immediate positive outcomes from wealth flooding into metropolitan regions, they also feel the negative impact on community members of varying income levels – particularly, those at the bottom that face increased housing prices, greater need for social services and growing concern for community safety. The income inequality and wealth gaps are at outsized levels, with the richest 0.1 percent holding the same amount of wealth as the bottom 90 percent. And when examined through a racial equity lens, the disparities become even starker; on average, white families have six times the wealth of African American and Hispanic families. This is where we are now. Unfortunately, the current policy environment at the national level isn’t focused on alleviating these inequities—cities are.
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