Terrible for minorities also.
It's a visible issue in some neighborhoods in DC. Blocks that were nearly 100% minority 15 years ago are predominantly young, white, and affluent. But, the corner church is still run by a minority pastor, with a largely minority congregation, all of whom want weekend parking on the street (as they now "commute" to church from the outer suburbs).
And I'm sure Satya Nadella doesn't have a problem paying for a house anywhere, even though he's a minority.
Anyways, I agree that viewing poverty solely through a racial lens is not productive. But, race does play a part. At the very minimum, blacks are more likely to be poor than whites. They are more likely to experience downward economic mobility. And more likely to experience multi-generational poverty.