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Related: About this forumCanadian Vs. American Millennials: Everything You Need To Know In 3 Minutes
Majority Report Contributor Michael Brooks takes three minutes to give us an analysis of why Canadian Millennials are doing better economically than their U.S. counterparts.
The Majority Report, live M-F at 12 noon EST and via daily podcast at http://Majority.FM
erpowers
(9,350 posts)The Canadian social safety net is not the reason Canadian Millennials are doing better than American Millennials. Part of the problem is American diversity and poverty. I am not a racist and I am not opposed to diversity. I like diversity. American diversity is a good thing. However, Canada probably does not have the same legacy of racism as does America. America is still dealing with issue of racism and the effects that racism has caused and continues to cause. If you look at white American Millennials, they are probably doing better than black Millennials. If you compare white Canadian Millennials to white American Millennials, white American Millennials are probably doing better than, or at least as well as, white Canadian Millennials.
America needs to try to do more to help black and Hispanic Millennials, especially female black and Hispanic Millennials. It has been mentioned that black women have an average net worth of about $5 or less. White men and women often have a much higher net worths. It has also been said that many white people get help from their parents when buying a house. Very few black people can get help from their parents when buying a house. Even when blacks can buy homes, they have to deal with the danger of being taken advantage of by banks. During the housing bubble more blacks than whites, even when blacks had good credit, were pushed into subprime loans. Things like that have been happening for decades in America. If discrimination in the housing industry can ever be ended things might get better for black people and for America as a whole.
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appalachiablue
(41,177 posts)for the first time two years ago.