Tuesday, November 12, 2013

Small town poverty & growth, the poor brings you down!


In many towns, like in mine there are issues effecting them
& will kill your town. Poverty!
http://www.bloomberg.com/news/2012-07-11/san-bernardino-third-california-city-to-choose-bankruptcy.html

"When somebody is poor in a very poor neighborhood, they face a whole range of challenges beyond just dealing with their individual poverty," Kneebone said. "Extremely poor neighborhoods have higher crime rates. They usually have poorer performing schools. Residents often have poorer health outcomes, and it can be harder to find job opportunities (because) businesses are often hesitant to invest in those neighborhoods."
http://www.tulsaworld.com

In my town the wages are low & the homes are old. There are many homes
in my town that are in bad shape & some ready to fall down.
They look abandoned but people live there.
The most of the income is low here so fixing your home is not in the plan!
It's not that people are "cutting Government spending" in their own home.
it is about the lack of money to buy the wood etc needed to fix things.

"Chances are the home you're in isn't worth what it used to be. You may not have indulged in the real estate bubble with its liar's loans and Wall Street greed, but you were stuck with the bill. Home values have dropped so far, so fast, that nearly 25 percent of mortgage holders today owe more than their house is worth."

"Across America, recession-fueled foreclosures and plummeting home values have left countless properties abandoned and vulnerable to looting. As Scott Pelley reports, the problem has gotten so bad in Cleveland, Ohio, that county officials have demolished more than 1,000 homes this year - and plan to demolish 20,000 more - rather than let the blight spread and render nearby homes worthless."

Im my town many homes are old with asbestos. It is about 60% of the town.
You can't just knock them all over.
http://www.cbsnews.com/8301-18560_162-57344513/there-goes-the-neighborhood/?tag=contentMain;contentBody

What does all the results of poverty do to your town. Why should you care?
It brings down your towns property value. And effects city bonds,
school, roads etc. The poor takes down everyone to their level.
It effects sales, jobs coming to town as the town looks poor.
Many things not seen, the poor just does not vanish.
http://guides.wsj.com/personal-finance/investing/what-is-a-bond

What can be done to stop this? For one the wages sets the market.
Higher wages gives more foundation, more ability to pay the bills fix your home.
Buy food, make better workers, not the failed background checks in the 1000's!

Also more support for the poor is needed. Not to bring in more high dollar places
that the people in town can't afford.
The belief that it will attract more people with money in town just does not work.
There has been many places in my town that have only lasted only 5 years.
The lack of sales wiped them out!

For your town, you need a foundation. After all you can't build your house
on quick sand! Or fix it by cutting spending on it!

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