The study doesn't exclude the value of the home. In fact, most of the net worth disparity is attributable to home ownership.
Total Assets:
White: $256,500 | U.S. Black: $700
Liquid Assets:
White: $25,000 | U.S. Black: $670
Net Worth:
White: $247,500 | U.S. Black: $8
Some definitions:
>Liquid assets, which can quickly be converted into cash, include money 18 in savings and checking accounts, stocks, money market, and government bonds.
>We totaled the value of all assets held by each racial group, including the value of all liquid assets, financial assets, retirement, home and vehicle equity, and the values of all other assets (these include life insurance policies and valuables such as jewelry)
>Net worth (or wealth), the sum of the value of total assets minus the value of debts, provides a snapshot of household financial well-being.
Total Assets: White: $256,500 | U.S. Black: $700
Liquid Assets: White: $25,000 | U.S. Black: $670
Net Worth: White: $247,500 | U.S. Black: $8
Some definitions:
>Liquid assets, which can quickly be converted into cash, include money 18 in savings and checking accounts, stocks, money market, and government bonds.
>We totaled the value of all assets held by each racial group, including the value of all liquid assets, financial assets, retirement, home and vehicle equity, and the values of all other assets (these include life insurance policies and valuables such as jewelry)
>Net worth (or wealth), the sum of the value of total assets minus the value of debts, provides a snapshot of household financial well-being.
From this PDF: https://www.bostonfed.org/-/media/Documents/color-of-wealth/...