New research from Yale University psychologists Jennifer Richeson and Michael Kraus demonstrates how many white and black Americans possess radically different perceptions — and lived experiences — on the economy, wealth and income.

On Monday, The Washington Post's Tracy Jan summarized this research:

Americans, especially wealthy whites, vastly overestimate progress toward racial economic equality despite evidence of persistent gaps between black and white workers when it comes to hourly wages, annual income and household wealth, according to a new paper by Yale University researchers published Monday. The study’s results are especially stunning in the wake of census data released last week that showed that African Americans were the only racial group still making less than they did in 2000.

Such beliefs cannot be reconciled with the facts. On average, white Americans have 13 times more household wealth than blacks and 10 times more than Latinos. Matters are even more dire: New research from Prosperity Now and the Institute for Policy Studies predicts that by the year 2053, the household wealth of the median black family in America will be zero. Social scientists estimate that it would take 228 years for black families to possess the same wealth in America that white families own today. The race wealth gap becomes even more severe if cars are removed from the calculations as a household asset. In that scenario, white families have at least 69 times the wealthof the median black family.