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I mean, define what do you mean by ACTUALLY poor. It's very common for people living in traditional working-class neighbourhoods to own a house and suddenly be
by mtrovo 2y ago
I mean, define what do you mean by ACTUALLY poor.
It's very common for people living in traditional working-class neighbourhoods to own a house and suddenly become paper rich when gentrification happens (e.g. Venice Beach in LA). They might find themselves in a situation where, in theory, they have a lot of wealth from the house but don't participate in the economy at the same level.
- onlyrealcuzzo 2y agoThat's not poor. There are homeless people. People who are barely able to rent a room in a crack house. You are NOT POOR if you own a single family house in Englewood. End of discussion. Sorry. Sell your house and live off the annuity for life at > median income after taxes in perpetuity. If you don't, there is literally no excuse for your situation other than your own choosing. What's different here - that is critical - the actual poor HAVE NO CHOICES.