Sunalmighty
Superstar
OP needs to change the title, it's misleading. This suburban poverty is happening everywhere
Suburban Poverty: Atlanta's Hidden Epidemic
- Thread starter Apollo Creed
- Start date
1st of all, I didn't say none of that shyt you typed.
2nd of all, WTF are you talking about? Am I white? You act as if only young people live in the projects. Like no elderly people live in the projects or disabled people living in the projects. WTF are they supposed to do? You're just gonna kick them out without assisting in relocating them? There is nothing wrong with improving the area when it benefits the people of the community and not outside influences(land developers, politicians, etc).
You must be white to think it's only young black lazy people that use and abuse government assistance? This type of thinking is along the lines of racists and c00ns during Hurricane Katrina. Thinking that everybody has the means and ability to evacuate the circumstances(hurricane hitting the city) at the drop of a hat.
My original post was in response to one of the reason why there is poverty in the burbs. Nothing more, nothing less. You tried to make it what you wanted it to be.
It's possible. Automation will come in and wreck everything. Automation will force people to make money on the Internet.
My post wasn't just limited to GA. This is happening nationwide.this would be accurate if only retailers weren't abandoning these suburbs.
Clayton County has NO starbucks
Elvira Sol
Pro
This is basically the plan for Detroit as well..
I've been saying this for ages....this is what america is gonna look like in ten years...
reverse white flight.
Now, when blacks get pushed out to the burbs, the businesses move, civil services stop operating, schools lose funding, trash doesn't get picked up, crime skyrockets, property values plummet, etc.
I keep on telling this board that this new breed of gentrification is revanchist (french for "revenge") whites want the cities back and are letting blacks have the burbs rural areas in general...the only difference is they will be left to rot and decay.
I can agree with you on that point, but I will say that in order to build those overpriced shyt boxes; they force poor Black people to relocate. So it is not so much White flight as much as it is a forced relocation of poor Black folks. I do agree with you though on that point.
Btw, I think that the real enemy to Black people neighborhoods is not White flight, but government policies of scattered site Section 8 Housing. Regular Black people don't give a damn about regular working brothas and sistas living in their neighborhoods, because people who pay for their shyt usually try to take care of their shyt. This government policy of Section 8 scattered site housing literally ruins regular black neighborhoods and prevent working class black people from entering the middle class through the development of equity in their homes.
ATL is just a broke city in general IMO.
A lot of people living off imaginary money, especially business owners.
A lot of people living off imaginary money, especially business owners.
BmoreGorilla
Veteran
Im talking the whole Baltimore-DC area. A ton of black middle and upper middle class. Mad business owners and political influence. Theres large black populations in the burbs. Some burbs are majority black. You wont find one area of the country like this
some macro stuff for the thread. It ain't just some of the burbs of ATL having problems. A family member moved to Mechanicsville downtown but is hanging in there.
Low-income Americans can no longer afford rent, food, and transportation
Updated by Soo Oh on March 30, 2016, 11:00 a.m. ET
Low-income Americans are experiencing a staggering price hike in housing costs — a change that makes it sometimes impossible to afford basic necessities.
A new Pew Charitable Trusts analysis of data from the Bureau of Labor Statistics shows that in 2013, low-income Americans spent a median of $6,897 on housing. In 2014, that rose to $9,178 — the biggest jump in housing spending for the 19-year period of data that Pew studied.
The cost of other necessities, like transportation and food, also rose, albeit not as dramatically. 2014 was the first year that Pew studied in which median spending on these three categories was higher than the median income for those in the lower third of income groups.
Soo Oh and Javier Zarracina / Vox
Lower income groups earn less income, while the costs of basic living are rising. Rent is making up nearly half of their expenditures. Download the data here.
"We show in these figures that over time, [lower-income groups] consistently spend more on transportation and considerably more on housing," Erin Currier, the project director at Pew Charitable Trusts, said. "Lower-income renters are spending nearly half their income on rent, while upper-income groups spend about 15 percent on rent. The disparity really shows that lower income families don’t have much slack in their budgets for mobility-enhancing investments like savings and wealth building."
Middle- and upper-income families also tightened budgets
The Bureau of Labor Statistics administers a quarterly interview survey to American households that collects data on monthly income and expenditures across a number of different categories. Pew's compilation of the past 19 years of data is especially striking when you look at how today's low-income Americans spend a significant percentage of their incomes on basic necessities.
The rise in housing costs was particularly drastic for low-income Americans. For middle and high earners, the increase was noticeable but smaller, about 6 to 9 percent in 2014. Their budgets also had a lot more slack; basic necessities didn't even come close to consuming nearly half their income.
Median incomes decreased across the board, though there was still room in their household budgets to return expenses to pre-recession levels. The average upper-income household spent nearly three times as much a month on entertainment spending as its lower-income counterpart.
Rents are rising as housing stock becomes scarce
What accounts for the dramatic increase in rent for low-income Americans? As my colleague Matt Yglesias wrote last week, housing inventory across the country is at a historic low, and exclusionary zoning laws in many cities and suburban areas prevent construction of multifamily units in favor of single-family homes:
The good news ought to be that a low level of housing supply leads to a boom in house building, which puts people to work and eventually ameliorates the shortage.
But it's not happening. Instead, construction of new homes remains at an abnormally low level.
Construction of McMansions has rebounded strongly, but overall construction remains in a fairly profound funk even as the population today is much larger than it was back in the 1970s.
So what's going on? The basic story seems to be that after years of financial crisis and recession, a large share of Americans are simply too burdened by low wages, past foreclosure, depleted savings, and overhangs of other debts (student loans, medical bills, etc.) to buy starter homes. And while investors were willing to pick up vacant or bank-owned single-family homes for pennies on the dollar during the peak slump years to operate them as rentals, nobody is excited enough about the business of operating single-family rental homes to actually go out and build vast new tracts of modest-size single-family homes destined for the rental market.
Read more from Yglesias on rental prices here.
Low-income Americans can no longer afford rent, food, and transportation
Low-income Americans can no longer afford rent, food, and transportation
Updated by Soo Oh on March 30, 2016, 11:00 a.m. ET
Low-income Americans are experiencing a staggering price hike in housing costs — a change that makes it sometimes impossible to afford basic necessities.
A new Pew Charitable Trusts analysis of data from the Bureau of Labor Statistics shows that in 2013, low-income Americans spent a median of $6,897 on housing. In 2014, that rose to $9,178 — the biggest jump in housing spending for the 19-year period of data that Pew studied.
The cost of other necessities, like transportation and food, also rose, albeit not as dramatically. 2014 was the first year that Pew studied in which median spending on these three categories was higher than the median income for those in the lower third of income groups.
Lower income groups earn less income, while the costs of basic living are rising. Rent is making up nearly half of their expenditures. Download the data here.
"We show in these figures that over time, [lower-income groups] consistently spend more on transportation and considerably more on housing," Erin Currier, the project director at Pew Charitable Trusts, said. "Lower-income renters are spending nearly half their income on rent, while upper-income groups spend about 15 percent on rent. The disparity really shows that lower income families don’t have much slack in their budgets for mobility-enhancing investments like savings and wealth building."
Middle- and upper-income families also tightened budgets
The Bureau of Labor Statistics administers a quarterly interview survey to American households that collects data on monthly income and expenditures across a number of different categories. Pew's compilation of the past 19 years of data is especially striking when you look at how today's low-income Americans spend a significant percentage of their incomes on basic necessities.
The rise in housing costs was particularly drastic for low-income Americans. For middle and high earners, the increase was noticeable but smaller, about 6 to 9 percent in 2014. Their budgets also had a lot more slack; basic necessities didn't even come close to consuming nearly half their income.
Median incomes decreased across the board, though there was still room in their household budgets to return expenses to pre-recession levels. The average upper-income household spent nearly three times as much a month on entertainment spending as its lower-income counterpart.
Rents are rising as housing stock becomes scarce
What accounts for the dramatic increase in rent for low-income Americans? As my colleague Matt Yglesias wrote last week, housing inventory across the country is at a historic low, and exclusionary zoning laws in many cities and suburban areas prevent construction of multifamily units in favor of single-family homes:
The good news ought to be that a low level of housing supply leads to a boom in house building, which puts people to work and eventually ameliorates the shortage.
But it's not happening. Instead, construction of new homes remains at an abnormally low level.
Construction of McMansions has rebounded strongly, but overall construction remains in a fairly profound funk even as the population today is much larger than it was back in the 1970s.
So what's going on? The basic story seems to be that after years of financial crisis and recession, a large share of Americans are simply too burdened by low wages, past foreclosure, depleted savings, and overhangs of other debts (student loans, medical bills, etc.) to buy starter homes. And while investors were willing to pick up vacant or bank-owned single-family homes for pennies on the dollar during the peak slump years to operate them as rentals, nobody is excited enough about the business of operating single-family rental homes to actually go out and build vast new tracts of modest-size single-family homes destined for the rental market.
Read more from Yglesias on rental prices here.
Low-income Americans can no longer afford rent, food, and transportation
^
‘Rich Dad’ author says the 2016 market collapse he foresaw in 2002 is coming
Published: Mar 28, 2016 7:59 a.m. ET
Fourteen years ago, the author of a series of popular personal-finance books predicted that 2016 would bring about the worst market crash in history, damaging the financial dreams of millions of baby boomers just as they started to depend on that money to fund retirement.
Broader U.S. stock markets are recovering from the worst 10-day start to a year on record. But Robert Kiyosaki — who made that 2016 forecast in the 2002 book “Rich Dad’s Prophecy” — says the meltdown is under way, and there’s little investors can do but buy gold or silverand hope the Federal Reserve slows the slide.
Kiyosaki is convinced: The pullback he predicted is happening.
“We’re right on schedule,” he said in a recent interview with MarketWatch.
A market destined to collapse
Investors are seven years into a bull market some fear is getting a bit long in the tooth, with the Dow industrials DJIA, +0.34% and the S&P 500 SPX, +0.30% SPX, +0.30% up 0.9% and 0.3%, in 2016. That’s after 2015 saw major U.S. indexes snap multiyear winning streaks amid falling commodity prices, concerns about economic growth, and the Federal Reserve’s December decision to raise interest rates.
In 2002, Kiyosaki wrote that the stock market would crash in 2016 as the first wave of baby boomers began to hit 70 1/2 in 2016 and started taking required-by-law distributions from traditional individual retirement accounts.
He still believes that: “Demography is destiny,” he said in the interview.
Courtesy Rich Dad Co.
Robert Kiyosaki.
According to U.S. Census Bureau data, more than 76 million individuals were born between 1946 and 1964; researchers at the Population Reference Bureau determined in 2014 that 65 million of them were still living. After immigrants are added in, according to that 2014 report, the number of living U.S. baby boomers was back above 76 million.
A market meltdown could imperil those boomers’ retirement plans, taking a badly timed bite out of hard-earned balances in their retirement accounts. And while the sheer number of aging boomers could contribute to stock-market selling pressure, Kiyosaki said, the larger issue today is that it’s hard for investors to figure out where to put money.
“Interest income or cash flow on savings is virtually nonexistent, and capital-gains plays in the stock market are thwarted because stock prices are at record highs,” he said.
Whatever burden millions of boomers might put on the market, he said, the situation is being made worse by events overseas, where one big country is wielding the monkey wrench.
“China has been in a bubble for 20-something years,” said Kiyosaki. “It has propped up the U.S. economy falsely. When [China] stops importing, the world crashes with them.”
Down the China rabbit hole
First to go, Kiyosaki said, will be commodity producers like Australia, Canada and African countries, which will drag down the rest of the world’s economies.
The collapse in oil prices has been particularly tough for economies such as Australia’s. The S&P/ASX 200 XJO, +0.12% down 14% over a 12-month period, suffered its first annual decline in four years last year. The Shanghai Composite SHCOMP, +2.77% meanwhile, has cratered, sliding nearly 15% in three months after earning the title of Asia’s best-performing stock market in 2015 with a gain above 9%.
Market watchers are largely divided about the outlook for China, though every piece of negative data raises new questions about the country’s ability to drive global economic growth. Recent data showed Chinese exports down 25.4% from a year earlier; economists had forecast a drop of 15%. It was the eighth consecutive decline in exports.
Read: China may swap ‘zombie’ companies for ‘zombie’ banks
Kiyosaki is hardly alone in his bearish view: The “high” probability of a “sharp economic slowdown“ in China was cited in mid-March as a top global risk by the Economist Intelligence Unit. Its concerns included a buildup of bad debt in the country, a weak currency and worries that the government may not be able to shore up its economy.
And ballooning government debt was a key reason Moody’s Investors Service cut its outlook on China’s credit rating in March, also citing money fleeing the country.
Kiyosaki, who has written or co-written more than two dozen books — including New York Times best seller “Rich Dad Poor Dad” — has built a fortune mostly on real estate and authorship, rather than the stock market. (His licensing company, Rich Global LLC, has filed for bankruptcy and is being sued by a seminar promoter in connection with that filing. A spokesman said Kiyosaki “has the money to withstand an adverse ruling” and expects the case to be settled this year.)
Forbes estimated Kiyosaki’s worth at $80 million in 2012, a figure he declined to address.
But from the outside looking in, he said, investors are ignoring danger signs. The next crash, he said, could have a harsher effect on the economy than the market crashes that have occurred so far in the 21st century.
Those crashes included the market rout that ended the dot-com boom in 2000, which erased $5 trillion in market value between March 2000 and October 2002, and the financial crisis of 2007-08, which inspired both a market collapse and a real estate bust. Better Markets, a nonprofit pro-financial-reform watchdog, has estimated that the final price tag for the 2007-08 crash will exceed $20 trillion in lost gross domestic product.
Kiyosaki said two key factors have emerged since he wrote “Rich Dad’s Prophecy”: the likelihood of a bust in China and the “insanity” of quantitative easing, the Federal Reserve’s controversial multibillion-dollar bond-buying program, which ended in 2014 amid criticism that it had increased demand for risky investments even as supporters said it sustained economic growth.
Opinion: China’s banks could be the next big problem
Meanwhile, China has been throwing money at its banks to keep lending going, and debt quality at financial institutions is a constant theme among worried onlookers. Kiyosaki said he is in the camp that fears Chinese banks will be at the forefront of the next crash.
Waiting for the Fed’s fire hose
Kiyosaki told MarketWatch that the combination of demographics and global economic weakness makes the next crash inevitable — but the Fed could stave it off with another round of quantitative easing, which might stimulate the economy.
The Fed turned more dovish at its March meeting, with the central bank penciling in fewer interest-rate hikes this year than were previously part of its implied framework. The Fed signaled those hikes would happen more slowly than had been anticipated earlier, owing to a weak global economic environment and a volatile stock market.
“The big question [whether] we do ‘QE4,’” said Kiyosaki. “If we do, the stock market will come roaring back, but it’s not rocket science. If we stop printing money, it crashes; if we print money, it goes up. But, eventually, it’s all going to come down.”
Reuters
Shanghai’s Pudong financial district as seen this month.
For baby boomers beginning to withdraw funds from the stock market, he said, another round of quantitative easing, or QE, might be a particularly welcome occurrence.
If Janet Yellen “even hints” about such fresh stimulus, Kiyosaki said, he’d be ready to go back into he stock market himself, if only for a short time. Money left in the bank in an ultra-low-rate environment — a big topic as central banks in Japan and the European Union have bitten the negative-rate bullet — returns nothing for savers, he noted.
And for the Fed another round of quantitative easing “could be the last time they pull this stunt,” in Kiyosaki’s view. “The markets might rally, then crash.”
Opinion: Don’t rule out the possibility of Fed quantitative easing (part four)
Because preparing for that coming storm is vital, Kiyosaki often invokes investors to “build a financial ark.”
He thinks investors should own some gold or silver, based on the view that central banks will just have to print money to get out of the next crisis and precious metals are often deployed as a perceived hedge against inflation. Some investors, meanwhile, might look for investments geared toward income, such as rent payments or dividends, rather than appreciation.
“If you know what you’re doing and are investing for cash flow, baby boomers — or any investors — may see some gains,” he said. “But for those whose wealth is tied up in the [equity] markets, it’s more like gambling than investing.”
‘Rich Dad’ author says the 2016 market collapse he foresaw in 2002 is coming
‘Rich Dad’ author says the 2016 market collapse he foresaw in 2002 is coming
Published: Mar 28, 2016 7:59 a.m. ET
Fourteen years ago, the author of a series of popular personal-finance books predicted that 2016 would bring about the worst market crash in history, damaging the financial dreams of millions of baby boomers just as they started to depend on that money to fund retirement.
Broader U.S. stock markets are recovering from the worst 10-day start to a year on record. But Robert Kiyosaki — who made that 2016 forecast in the 2002 book “Rich Dad’s Prophecy” — says the meltdown is under way, and there’s little investors can do but buy gold or silverand hope the Federal Reserve slows the slide.
Kiyosaki is convinced: The pullback he predicted is happening.
“We’re right on schedule,” he said in a recent interview with MarketWatch.
A market destined to collapse
Investors are seven years into a bull market some fear is getting a bit long in the tooth, with the Dow industrials DJIA, +0.34% and the S&P 500 SPX, +0.30% SPX, +0.30% up 0.9% and 0.3%, in 2016. That’s after 2015 saw major U.S. indexes snap multiyear winning streaks amid falling commodity prices, concerns about economic growth, and the Federal Reserve’s December decision to raise interest rates.
In 2002, Kiyosaki wrote that the stock market would crash in 2016 as the first wave of baby boomers began to hit 70 1/2 in 2016 and started taking required-by-law distributions from traditional individual retirement accounts.
He still believes that: “Demography is destiny,” he said in the interview.
Robert Kiyosaki.
According to U.S. Census Bureau data, more than 76 million individuals were born between 1946 and 1964; researchers at the Population Reference Bureau determined in 2014 that 65 million of them were still living. After immigrants are added in, according to that 2014 report, the number of living U.S. baby boomers was back above 76 million.
A market meltdown could imperil those boomers’ retirement plans, taking a badly timed bite out of hard-earned balances in their retirement accounts. And while the sheer number of aging boomers could contribute to stock-market selling pressure, Kiyosaki said, the larger issue today is that it’s hard for investors to figure out where to put money.
“Interest income or cash flow on savings is virtually nonexistent, and capital-gains plays in the stock market are thwarted because stock prices are at record highs,” he said.
Whatever burden millions of boomers might put on the market, he said, the situation is being made worse by events overseas, where one big country is wielding the monkey wrench.
“China has been in a bubble for 20-something years,” said Kiyosaki. “It has propped up the U.S. economy falsely. When [China] stops importing, the world crashes with them.”
Down the China rabbit hole
First to go, Kiyosaki said, will be commodity producers like Australia, Canada and African countries, which will drag down the rest of the world’s economies.
The collapse in oil prices has been particularly tough for economies such as Australia’s. The S&P/ASX 200 XJO, +0.12% down 14% over a 12-month period, suffered its first annual decline in four years last year. The Shanghai Composite SHCOMP, +2.77% meanwhile, has cratered, sliding nearly 15% in three months after earning the title of Asia’s best-performing stock market in 2015 with a gain above 9%.
Market watchers are largely divided about the outlook for China, though every piece of negative data raises new questions about the country’s ability to drive global economic growth. Recent data showed Chinese exports down 25.4% from a year earlier; economists had forecast a drop of 15%. It was the eighth consecutive decline in exports.
Read: China may swap ‘zombie’ companies for ‘zombie’ banks
Kiyosaki is hardly alone in his bearish view: The “high” probability of a “sharp economic slowdown“ in China was cited in mid-March as a top global risk by the Economist Intelligence Unit. Its concerns included a buildup of bad debt in the country, a weak currency and worries that the government may not be able to shore up its economy.
And ballooning government debt was a key reason Moody’s Investors Service cut its outlook on China’s credit rating in March, also citing money fleeing the country.
Kiyosaki, who has written or co-written more than two dozen books — including New York Times best seller “Rich Dad Poor Dad” — has built a fortune mostly on real estate and authorship, rather than the stock market. (His licensing company, Rich Global LLC, has filed for bankruptcy and is being sued by a seminar promoter in connection with that filing. A spokesman said Kiyosaki “has the money to withstand an adverse ruling” and expects the case to be settled this year.)
Forbes estimated Kiyosaki’s worth at $80 million in 2012, a figure he declined to address.
But from the outside looking in, he said, investors are ignoring danger signs. The next crash, he said, could have a harsher effect on the economy than the market crashes that have occurred so far in the 21st century.
Those crashes included the market rout that ended the dot-com boom in 2000, which erased $5 trillion in market value between March 2000 and October 2002, and the financial crisis of 2007-08, which inspired both a market collapse and a real estate bust. Better Markets, a nonprofit pro-financial-reform watchdog, has estimated that the final price tag for the 2007-08 crash will exceed $20 trillion in lost gross domestic product.
Kiyosaki said two key factors have emerged since he wrote “Rich Dad’s Prophecy”: the likelihood of a bust in China and the “insanity” of quantitative easing, the Federal Reserve’s controversial multibillion-dollar bond-buying program, which ended in 2014 amid criticism that it had increased demand for risky investments even as supporters said it sustained economic growth.
Opinion: China’s banks could be the next big problem
Meanwhile, China has been throwing money at its banks to keep lending going, and debt quality at financial institutions is a constant theme among worried onlookers. Kiyosaki said he is in the camp that fears Chinese banks will be at the forefront of the next crash.
Waiting for the Fed’s fire hose
Kiyosaki told MarketWatch that the combination of demographics and global economic weakness makes the next crash inevitable — but the Fed could stave it off with another round of quantitative easing, which might stimulate the economy.
The Fed turned more dovish at its March meeting, with the central bank penciling in fewer interest-rate hikes this year than were previously part of its implied framework. The Fed signaled those hikes would happen more slowly than had been anticipated earlier, owing to a weak global economic environment and a volatile stock market.
“The big question [whether] we do ‘QE4,’” said Kiyosaki. “If we do, the stock market will come roaring back, but it’s not rocket science. If we stop printing money, it crashes; if we print money, it goes up. But, eventually, it’s all going to come down.”
Shanghai’s Pudong financial district as seen this month.
For baby boomers beginning to withdraw funds from the stock market, he said, another round of quantitative easing, or QE, might be a particularly welcome occurrence.
If Janet Yellen “even hints” about such fresh stimulus, Kiyosaki said, he’d be ready to go back into he stock market himself, if only for a short time. Money left in the bank in an ultra-low-rate environment — a big topic as central banks in Japan and the European Union have bitten the negative-rate bullet — returns nothing for savers, he noted.
And for the Fed another round of quantitative easing “could be the last time they pull this stunt,” in Kiyosaki’s view. “The markets might rally, then crash.”
Opinion: Don’t rule out the possibility of Fed quantitative easing (part four)
Because preparing for that coming storm is vital, Kiyosaki often invokes investors to “build a financial ark.”
He thinks investors should own some gold or silver, based on the view that central banks will just have to print money to get out of the next crisis and precious metals are often deployed as a perceived hedge against inflation. Some investors, meanwhile, might look for investments geared toward income, such as rent payments or dividends, rather than appreciation.
“If you know what you’re doing and are investing for cash flow, baby boomers — or any investors — may see some gains,” he said. “But for those whose wealth is tied up in the [equity] markets, it’s more like gambling than investing.”
‘Rich Dad’ author says the 2016 market collapse he foresaw in 2002 is coming
I think this is the "final solution" they were talking about for black folk in America.
They're going to push out to the burbs and just have em kill each others off and then whites will take it back once the property values are low and the residents are no longer there.
This is the future of Black America in the burbs.
http://www.thecoli.com/threads/9-pe...razy-ass-hood-video-wtf.412729/#post-18391598
No plans for upward mobility
No plans for positive development
Just move everything (poverty, crime, chaos) to the burbs.
Once whites see the oncoming throngs of blacks heading to those areas, they will move out of sheer discomfort.
Lol hope you aint talking about reselling Ali baba crap and google ad revenue
Jobs are gonna disappear altogether in another 30 years thanks to technology . The CACs have a very limited time left and they want to spend their last generation in convenience, and they forgo having kids altogether. City life was never meant to raise a healthy family, and they know that since they skip the process of an organic family altogether.
