Home Inequity: Race, Wealth, and Housing in St. Louis since 1940.* Colin Gordon, University of Iowa (History)
[email protected] Sarah K. Bruch, University of Iowa (Sociology)
[email protected] * The authors thank Kyu Young Lee, Jennifer Marks, and Ashley Dorn for research assistance, Matt Nelson of the Minnesota Population Center for help with the 1940 full-count Census, and participants at the Race and Space Seminar, Hall Center, University of Kansas, for comments on an earlier version. Funding provided by a University of Iowa, Office of Vice President for Research, Internal Funding Initiative. Direct correspondence to Colin Gordon, Department of History, University of Iowa, 280 Schaeffer Hall, Iowa City, IA 52242
[email protected]. Manuscript Home Inequity: Race, Wealth, and Housing in St. Louis since 1940 There are few starker measures of economic inequality, in terms of either distributional outcomes or historical implications, than the racial wealth gap. The black-white wealth gap has persisted despite the promise of Reconstruction, the Great Migration, and the legal and political gains of the long civil rights movement. Wealth, in turn, is not just a distributional marker; it is also a key determinant of economic security, mobility, and opportunity (Spilerman 2000; Conley 1999; Oliver and Shapiro 2006). Wealth allows individuals and families to smooth out short-term volatility in income (O’Brien 2012; Hacker 2008;), to bolster future income through education and other investments in human capital (Pfeffer 2011; Conley 1999; Altonji and Doraszelski 2005), and to offer the next generation a “starting gate” advantage in the form of both home ownership (a “de facto purchase of educational resources” [Pfeffer 2011] in the U.S.