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High Housing Costs Are Good For Some Poor

Posted by: Abhijeet Chavan
Thanks to: Margy Waller
24 August 2005 - 12:00pm

Mark Alan Hughes writes that instead of fearing rising housing costs, the poor should benefit.

Mark Alan Hughes notes that poor homeowners in gentrifying neighborhoods "are being told to fear rising house prices rather than being taught to leverage them into personal wealth."

Poor homeowners "should consider cashing out altogether and selling their houses. The proceeds from such sales ... would generate a transfer to lower-income people that's long overdue."

Hughes presents a provocative point of view about gentrifying center city neighborhoods and argues the poor can be victors instead of victims.

Full Story: CASH IN THAT REAL-ESTATE JACKPOT
Source: The Philadelphia Daily News, August 23, 2005
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