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In cities with booming economies this is accurate. High income newcomers spend a lot of money which creates more jobs and raises wages for existing residents. A
by slackingoff2017 9y ago
In cities with booming economies this is accurate. High income newcomers spend a lot of money which creates more jobs and raises wages for existing residents. Any long time residents that own property have newfound wealth, and local businesses thrive.
- foldr 9y agoMost of the tech boomtowns have significant poverty, and the tech industry seems to have made it somewhat worse, not better. http://www.mercurynews.com/2015/04/01/poverty-rates-near-record-levels-in-bay-area-despite-hot-economy/ http://www.mercurynews.com/2015/04/01/poverty-rates-near-rec...