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Poverty Grows In Suburbs

Posted by: Abhijeet Chavan
Thanks to: Kurt Paulsen
18 October 2004 - 2:00pm

Suburban growth is squeezing out middle-class families.

"For the first time, the number of poor people in the suburbs almost equals the number in cities at the center of metropolitan areas.The stronghold of middle-class America for more than 50 years, suburbs now are home to an increasing number of the very poor and the very rich, according to a report to be released today by the Brookings Institution, a think tank in Washington, D.C. The share of suburbanites living in middle-income neighborhoods dropped from 75% in 1980 to 61% in 2000, according to the Brookings report. During the same period, the percentage of people living in poor and affluent suburbs increased."

Full Story: Suburbs' grass isn't always greener
Source: USA Today, October 18, 2004
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The decision to abandon a property is a symptom of the loss of confidence. And while abandonment certainly affects confidence among surrounding homeowners, the most important question to answer is not "how do we deal with abandoned properties?" but "what is the most cost-effective way to restore market confidence, and how do abandoned properties fit into that picture?"
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