>suburbs of major cities are nice upper middle class areas.
Yes, they are for sure. I'm not speaking about the at all.
What is a slum? A place where lots of people whose socioeconomic peculiarities prevent them from engaging in a meaningful economic activity. They can't get education, meaningful job locally, or have enought money to relocate. Eventually, overconcentration of such people weeds out all remaining economic activity out of the area and drives value of whatever is there down.
Yes, they are for sure. I'm not speaking about the at all.
What is a slum? A place where lots of people whose socioeconomic peculiarities prevent them from engaging in a meaningful economic activity. They can't get education, meaningful job locally, or have enought money to relocate. Eventually, overconcentration of such people weeds out all remaining economic activity out of the area and drives value of whatever is there down.
https://www.amazon.com/Great-Inversion-Future-American-City/...