This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Rich, Poor Living Farther and Farther Apart -- Literally

By Kevin Spak, Newser Staff

Rich Americans and poor Americans are increasingly segregating themselves into separate neighborhoods, as the gap between America's haves and have-nots widens, a Pew study of recent census data reveals.

From 1980 to 2010, the number of high-income households located in affluent neighborhoods doubled to 18%, the Washington Post reports, while the number of low-income households located in poor areas rose from 23% to 28%. Mixed or middle-class neighborhoods are still the most common, but their ranks are diminishing.

More from Newser
1 in 12 Facebook Users is Bogus
Election 2012's Projected Tab: $5.8B
Thousands Flock to Chick-fil-A's Defense

"The country has increasingly sorted itself into areas where people are surrounded by more of their own kind, if you will," a Pew official said. Researchers see rising income inequality as the force driving the trend.

An earlier Stanford study found that over a 40-year span the percentage of families living in middle-class neighborhoods declined from almost two-thirds to less than half.

Another demographer adds that generational factors are at work, because baby boomers largely bought homes in neighborhoods their kids can't afford.



--Written by Kevin Spak of Newser

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
AAPL $124.75 0.00%
FB $80.78 0.00%
GOOG $524.05 0.00%
TSLA $206.79 0.00%
YHOO $44.45 0.00%

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs