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Cash In The Inner City

Posted by: Abhijeet Chavan
Thanks to: Rebecca Ross
14 January 2005 - 2:00pm

A recent study reveals the market potential of middle-income households in the nation's inner cities.

The Initiative for a Competitive Inner City (www.icic.org) recently completed a comprehensive analysis of census data on inner city economies.

"The biggest finding of the study is a bombshell. Because so many people live in them, inner city neighborhoods in the U.S. have eight times more spending power than the neighborhoods that surround them. What's more, the study found that 38 percent of inner-city households aren't low-income at all — but moderate to middle income. That means they earn between $20,000 to $50,000 a year."

Full Story: Retailers shop for profit in inner cities
Source: MSNBC, January 14, 2005
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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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