Jump to content
House Price Crash Forum
Sign in to follow this  
interestrateripoff

Miami’S Poor Live On $11 A Day As Boom Widens Wealth Gap

Recommended Posts

http://www.bloomberg.com/news/2014-05-02/miami-s-poor-live-on-11-a-day-as-boom-widens-wealth-gap.html

As the luxury bus ferried a dozen of his clients past building sites, Miami property consultant Peter Zalewski rattled off names of 50 area high-rises being financed by money from Venezuela, Hong Kong and Argentina.

Blocks away, locals live on as little as $11 a day.

It’s another boom in Miami, which has been at the mercy of real-estate speculators since the 1920s. The latest influx of capital is deepening inequality in a city where the distribution of wealth more closely resembles a developing country than the most advanced industrialized nation.

“Miami isn’t the gateway to Latin America; Miami has the same economic demographics as Latin America,” said Pedro “Joe” Greer, a doctor whose 25 years of work treating the homeless and uninsured there earned him the nation’s highest civilian honor -- the Presidential Medal of Freedom -- in 2009. “Seventy percent of the families we work with bring in less than $25,000 a year.”

Ah yes the American dream.

Share this post


Link to post
Share on other sites

60% of the population in the Miami-area were born outside the United States. Miami looks like the third-world because it is the third-world.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   212 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.