Close X Cookies are necessary for the proper functioning of 24hGold.com. By continuing your navigation on our website, you are accepting the use of cookies.
To learn more about cookies ...
EnglishFrench
Gold & Silver Prices in
In the same category

Suburbia: Where the poor are

IMG Auteur
Published : September 29th, 2011
237 words - Reading time : less than a minute
( 0 vote, 0/5 )
Print article
  Article Comments Comment this article Rating All Articles  
0
Send
0
comment
Our Newsletter...
Category : Opinions and Analysis

 

 

 

 

The U.S. government has done all it can to promote home ownership, clustering over-indebted Americans together out in the lush green suburbs behind white picket fences. But, what was once the American dream is now where 15.4 million people living below the poverty level reside, according to the Brookings Institute.


Those living in poverty in America’s cities totaled 12.7 million last year. “We think of poverty as a really urban or ultra-rural phenomenon, but it’s not,” said Elizabeth Kneebone, senior research associate at Brookings. “It’s increasingly a suburban issue.”


The housing crash brought poverty to suburbia like never before. “The collapse of the housing market caused the ranks of the poor to spike in Sun Belt communities, such as those surrounding Lakeland, Fla., and Riverside, Calif,” writes Tami Luhby for CNNMoney. “Many low-income people had moved there during the boom to make money building and caring for homes or working in the retailers and restaurants that cropped up to service the new residents.”


Suburban housing tracts don’t look like slums yet, “But behind closed doors, there are increasing numbers of people who don’t have jobs, their retirement nest eggs are gone and they can’t meet their mortgage payments,” says Donna Cooper, senior fellow at the Center for American Progress.


But the poverty will burst out into the open when hundreds of municipalities go broke and the next financial meltdown shoe drops.


Article originally published on www.mises .org

 

 

<< Previous article
Rate : Average note :0 (0 vote)
>> Next article
Douglas French is president of the Mises Institute and author of Early Speculative Bubbles & Increases in the Money Supply.
Comments closed
Latest comment posted for this article
Be the first to comment
Add your comment
Top articles
Latest Comments
100 Items That Disappear First in a Disaster
23 Markevthorne
68, 69 probably not that safe - particularly if you're growing your own vegetables - keep a Maine Coon cat instead: does the job automatically.
Farage Interviews Le Pen: “Prison of the EU”
21 Marneville
BRITANNIA RULES THE WAVES AND NOW BREXIT WAIVES THE RULES. GO FOR IT FRANCE AND RID YOURSELVES FROM THE CHAINS OF IDIOTS. NOT SIN...
How the Fed Operates — And Why It's a Problem
20 Marramasart
In a nutshell, the Fed facilitates the theft of the value of the dollar, as they can control the increase in supply which at the same time inverts ...
How the Fed Operates — And Why It's a Problem
20 Marneville1
With all due respects for outlining how the crooked american Fed works or should work. From all our research we find the following the Fed...
Sparta - Gold prohibition in a collapsing economy
18 Markevthorne
You've answered none of the authors points: your comment is flat rubbish.
America Too Broke to Fix Crumbling Infrastructure? “Bridges, Roads,...
16 MarCameron Waugh1
Just like the leaders of the Bolshevik revolution were not Russians, those formulating belligerent US foreign policy are not Americans, and they ha...
POTUS at SOTUS
16 MarDRGEORGE1
Try explaining that to my patients dying on public waiting lists or getting ripped off by exorbitant private specialist fees!
POTUS at SOTUS
08 MarS W.0
I don't know what hallucinogens Dr G is on but my experience, both working in, and using the health system in Oz is that it is very bloody good.!
Most commented articlesFavoritesMore...
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS