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Being born into a wealthy family does not guarantee you will remain there. Rich people make poor choices that send them back to the bottom of the ladder every day.
Wealth certainly insulates one from the consequences of one's decision-making.
rich guy: "Should I buy a thousand shares of IBM stock or Halliburton today?" If he loses, he has a lot of other resources to fall back on.
poor guy: "It's Wednesday and I get paid on Friday. I have $5 left. My gas tank is empty and so is the kitchen. Do I buy gas to get to work or macaroni and cheese for a couple of meals?"
Not so many options.
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The difference is they have the drive to return to the top.
I see the difference more as they have the connections to make it back to the top.
So...poor equals high-crime? Even tho' many working people are considered poor.
I live in community where the working class, used to be able to afford to live, without subsidy. Taxes are lower here and so retirees and those willing to commute to Fredrick, D.C. etc have moved here. Some built Mcmansions on what used to be good farmland, and others bought older homes either tore them down or as the OP said, "upgraded"
I'm a firm believer that a good society needs people from many walks of life. maybe if all the affordable housing wasn't torn down/converted...you wouldn't then need to build affordable housing.
Granted, I'm talking about lower-middle class working people, and not those who live completely off the dole.
no..working class is good. they take care of their house/lawn etc..clean up themselves..a lot section folks don't! Also a lot neighborhood in Baltimore used to be nice but ghetto destroyed it
Wealth certainly insulates one from the consequences of one's decision-making.
rich guy: "Should I buy a thousand shares of IBM stock or Halliburton today?" If he loses, he has a lot of other resources to fall back on.
poor guy: "It's Wednesday and I get paid on Friday. I have $5 left. My gas tank is empty and so is the kitchen. Do I buy gas to get to work or macaroni and cheese for a couple of meals?"
Not so many options.
I see the difference more as they have the connections to make it back to the top.
That might be true for some poor folks out there but a lot of them aren't that way. Their spending habit tends be to different. A lot of them have cable, flat screen tele, xbox/ps3 and "smart"phones ok
I've driven through East Palo Alto. I encourage everyone to move across the freeway to Palo Alto. It's much nicer here. Just don't expect me or the taxpayer to pay for it.
That might be true for some poor folks out there but a lot of them aren't that way. Their spending habit tends be to different. A lot of them have cable, flat screen tele, xbox/ps3 and "smart"phones ok
Absent zoning laws, there would be far less of a divide between rich neighborhoods and poor neighborhoods. Wealthy communities often make regulations like "houses built in this area must be over a certain size" which amounts to "you must be rich to live here". They also tend to make it very difficult to build apartments through zoning, or ban them outright.
If it's truly your property, how is it justifiable that the government dictate what you're allowed to build on it so long as it doesn't damage your neighbor's property?
Anyhow, there is most certainly a market for lower cost housing in wealthier areas. It's local governments who artificially impose economic barriers.
So...poor equals high-crime? Even tho' many working people are considered poor.
I live in community where the working class, used to be able to afford to live, without subsidy. Taxes are lower here and so retirees and those willing to commute to Fredrick, D.C. etc have moved here. Some built Mcmansions on what used to be good farmland, and others bought older homes either tore them down or as the OP said, "upgraded"
I'm a firm believer that a good society needs people from many walks of life. maybe if all the affordable housing wasn't torn down/converted...you wouldn't then need to build affordable housing.
Granted, I'm talking about lower-middle class working people, and not those who live completely off the dole.
Pennsylvania is a unique case. Many of the working poor there have traditionally been low crime. Unusually so. Most other locations where low income people move in have a large spike in crime. People are likely to avoid this,because property values would likely decline, whether justified or not.
I hear the affordable housing issue, but perhaps the easiest is to move somewhere affordable. Post-bubble, there are more of those places.
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