Thursday, November 23, 2006
Poor Americans are not poor: Thanksgiving Day has got me thinking about abundance and poverty. Students moan in my class about how poor so many Americans are. I looked at the American Community Survey to see what percent of poor Americans own a house. According to the 2000 sample of 52,830 of Americans making less than $20,000 annually total household income, 30.4% own a house free and clear, 17.8% own with a mortgage or loan, and 51.8% rent. The modal home owned has 3 bedrooms. A Third Worlder would giggle if you told him that 1/2 of poor Americans owned a house with 3 bedrooms. That ain't poor, baby.
Posted by Ron Guhname