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>Lower socioeconomic class stay in the neighborhood that they grew up in and are much more likely to be close to parents and siblings. This is a much stronger n
by pydry 4y ago
>Lower socioeconomic class stay in the neighborhood that they grew up in and are much more likely to be close to parents and siblings. This is a much stronger network than some immigrant community of strangers based on country of origin.
Are you equating the economic potential of being able to tap a large interest free loan from your community and having an equally poor sibling?
- bko 4y agoI'm an immigrant to the US. My parents had a network of people from the same country (European). It was a good resource of friends and babysitting for my parents, but i never heard of anyone giving large interest free loans to a poor stranger just because they came from the same country. But maybe that's the norm for asian communities. Btw i wouldn't discount free childcare and is honestly worth more than an interest free loan. If you can help share childcare you can work many more hours
- O__________O 4y agoForget the name for it, but there is community based loan concept where everyone pitches in a little money to give one individual a loan based on luck of the draw with the pretext that in future prior past contributors have better odds of winning. Needless to say, frequently is a scam. EDIT: Here are examples: https://www.google.com/search?q=site:wikipedia.org+informal+loan+club https://www.google.com/search?q=site:wikipedia.org+informal+...