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A recent study shows that higher income minorities live in worst neighborhoods than lower middle class whites. We still have a lot of progress to make.
I suspect the OP has never read "The Millionare Next Door". Affluent people of all races (until you reach the levels of "uber rich" or "cash poor/credit rich") tend to live well below their means in regard to their choice of homes. The secret to keeping and maintaining wealth is all about what you don't spend. Why pay for more house if the one you have is mortgage free? Why pay higher property taxes if you like your neighbors and don't feel compelled to move?
Did the OP notice that it was the upper-middle class and wealthy neighborhoods where houses were being greatly foreclosed upon? Those were people living beyond their means.
Some of the farmers with the most humble homes and oldest vehicles are the ones with the most cash and investments. Why would it be any different when one bases the measurement on "race" when it comes to the wealthy being thrifty?
$75k is not exactly affluent. The premise of this article is flawed. Even if it wasn't, being a little more comfortable monetarily doesn't equate with having more in common with wealthy neighbors. A Latino wants to live in a Latino neighborhood because they share a culture - it's not about class difference.
I would like to know how many black Hollywood or basketball stars choose to live in da hood. Where does Rangel live? Where does Whoopi live?
Stupid article.
I suspect the OP has never read "The Millionare Next Door". Affluent people of all races (until you reach the levels of "uber rich" or "cash poor/credit rich") tend to live well below their means in regard to their choice of homes. The secret to keeping and maintaining wealth is all about what you don't spend. Why pay for more house if the one you have is mortgage free? Why pay higher property taxes if you like your neighbors and don't feel compelled to move?
Did the OP notice that it was the upper-middle class and wealthy neighborhoods where houses were being greatly foreclosed upon? Those were people living beyond their means.
Some of the farmers with the most humble homes and oldest vehicles are the ones with the most cash and investments. Why would it be any different when one bases the measurement on "race" when it comes to the wealthy being thrifty?
No I have not read the book, and I know its premise well.
I don't have links handy to the related studies:
A low income white person tends to live in a middle class area and has access to the better schools and neighborhood services.
If higher income minorities live in low income areas, then they do not have access to the better schools in the middle class areas, setting up a cycle that is harder to break. They environment is generally more stressful, since neighbors are more likely to have more problems at home.
This has nothing to do with home prices/etc. In most areas of the country, the foreclosure rate is much higher in poor to moderate areas than in the higher income areas. The foreclosure wave is just starting to hit the higher income areas. All of this is irrelevant to the original article.
A recent study shows that higher income minorities live in worst neighborhoods than lower middle class whites. We still have a lot of progress to make.
I remember that happening in the 1960s. I also remember hearing some of them say that they couldn't move into neighborhoods they could afford to live in because that made them blockbusters and property values in the new area dropped so much they just couldn't afford to kill themselves. I would imagine that kind of crap is still going on although we have improved a whole lot since those days.
I'm not sure why the OP is making it out to be a problem if they are there by choice.
But are they there by choice? Are they considered block busters as they were in the 60s? I don't know but I am sure that in some areas that is just why they don't get out.
But are they there by choice? Are they considered block busters as they were in the 60s? I don't know but I am sure that in some areas that is just why they don't get out.
You are putty in the op's hands. It ain't the 60's anymore, I think your theory is ridiculous, with all due respect.
No I have not read the book, and I know its premise well.
I don't have links handy to the related studies:
A low income white person tends to live in a middle class area and has access to the better schools and neighborhood services.
If higher income minorities live in low income areas, then they do not have access to the better schools in the middle class areas, setting up a cycle that is harder to break. They environment is generally more stressful, since neighbors are more likely to have more problems at home.
This has nothing to do with home prices/etc. In most areas of the country, the foreclosure rate is much higher in poor to moderate areas than in the higher income areas. The foreclosure wave is just starting to hit the higher income areas. All of this is irrelevant to the original article.
No, it really isn't irrelevant. But, I see you took offense that I didn't fall for the race-bait. It does little good to compare apples with oranges. According to the article one is led to believe that affluent blacks are thriftier than middle class whites in their choice of neighborhoods in which to live. Ok, I see that as a fiscally responsible personal choice on the part of the affluent blacks the article references and a fiscally irresponsible reflection on middle class whites. Your problem with this is what?
You are putty in the op's hands. It ain't the 60's anymore, I think your theory is ridiculous, with all due respect.
It was not my theory. It belonged to a black man who many whites made little of because he drove Cadillacs and didn't even try to move into an area where the property values would begin to drop when whites started moving out of the area. It happened all the time back then and I hope has lessened by today in most places but I can assure you that it hasn't happened everywhere.
You are putty in the op's hands. It ain't the 60's anymore, I think your theory is ridiculous, with all due respect.
Discrimination remains, and it's strong. The same thing happened to me in the 2000s that has been happening to black people forever.
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