Reversal of Fortune: in the 70's and early 80's, poverty and crime lived in the inner cities. People moved to the suburbs. In the late 90's folks started moving back to the inner-cities. The suburbs were deemed boring, culture-less and long drive to the employment centers. Real estate in the inner-cities boomed in the late-90's and early 00's, then like the rest of the country it felt like the mortgage crisis ripples. But for the most part real estate values in inner-cities held or experienced minor setbacks at most. Who's remaining in the suburbs?
A pair of analyses by the nonprofit Brookings Institution paints a bleak economic picture for the 100 largest metropolitan areas over the past decade and in coming years, and finds that suburbs now are home to one-third of the nation's poor, and rising.
After the recession began in 2007, the suburbs continued to post larger increases in the number of poor – adding 1.8 million, compared with 1.4 million in the cities.
Cities still have higher poverty rates – about 19.5 percent, compared with 10.4 percent in the suburbs. But the gap has been steadily narrowing. In a reversal from 2000, the number of poor people living in the suburbs now exceeds those in cities by roughly 1.6 million.
"Millions of Americans at all income levels moved to the suburbs looking for better schools, better jobs, affordable housing, and a sense of security, but in recent years, as incomes have fallen, people had a harder and harder time making ends meet," said Scott Allard, a University of Chicago professor who co-wrote one of the reports.
"As a result, Americans who never imagined becoming poor are now asking for assistance, and many are not getting the help they need."
Via the Link site that wants to be a News site:
The Huffington Post.
Reversal of Fortune: in the 70's and early 80's, poverty and crime lived in the inner cities. People moved to the suburbs. In the late 90's folks started moving back to the inner-cities. The suburbs were deemed boring, culture-less and long drive to the employment centers. Real estate in the inner-cities boomed in the late-90's and early 00's, then like the rest of the country it felt like the mortgage crisis ripples. But for the most part real estate values in inner-cities held or experienced minor setbacks at most. Who's remaining in the suburbs? 
3 comments:
Bubble!
yup. and the inner cities have become to expensive for the poor. only the wealthy can afford the real estate prices and rents. the poor have been relegated to suburbia.
to = too
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