Final answer:
The median income for White people is higher compared to African Americans and Latino families. Disparities in income and net worth are influenced by homeownership rates and historical policies.
Step-by-step explanation:
The median income for White people tends to be higher compared to African Americans and Latino families in the United States. According to the provided information, the median net worth for White, non-Hispanic families is $189,100, while Hispanic families have a median net worth of $36,050 and Black, non-Hispanic families have a median net worth of $24,100. Additionally, homeownership rates also contribute to these disparities, with White, non-Hispanic families having a 74% homeownership rate, compared to 48% for Hispanic families and 45% for Black, non-Hispanic families. These disparities can be traced back to historical policies like redlining, which excluded minority communities from receiving loans, as well as ongoing disparities in bank practices. These factors contribute to the current income and wealth disparities among different racial and ethnic groups.