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By definition, you're not poor if you own a multigenerational million dollar house in Los Angeles.

The people who are ACTUALLY poor, don't have such things.




I mean, define what do you mean by ACTUALLY poor.

It's very common for people living in traditional working-class neighbourhoods to own a house and suddenly become paper rich when gentrification happens (e.g. Venice Beach in LA). They might find themselves in a situation where, in theory, they have a lot of wealth from the house but don't participate in the economy at the same level.


That's not poor.

There are homeless people.

People who are barely able to rent a room in a crack house.

You are NOT POOR if you own a single family house in Englewood. End of discussion. Sorry.

Sell your house and live off the annuity for life at > median income after taxes in perpetuity. If you don't, there is literally no excuse for your situation other than your own choosing.

What's different here - that is critical - the actual poor HAVE NO CHOICES.




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