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Originally Posted by Article
America’s wealthiest Black county is in trouble.
Prince George’s County, Md., has gained prominence in recent years as the most affluent county in America with a majority African-American population. Average income in the county is almost double the national average for Black families, according to the Census Bureau’s 2009 American Community Survey.
But the county, adjacent to the District of Columbia, has been laid low by the recession and the mortgage meltdown and now holds a more dubious distinction: a rising foreclosure rate that ranks as the worst in Maryland.
http://www.msnbc.msn.com/id/43343008...s/from/toolbar
** This story has been corrected from an earlier version, which erroneously described District Heights resident Yvonne Brown as Black.** |
What say you, GCers?
This is unfortunate but not surprising considering what is happening in other affluent (and nonaffluent) communities across the country.
It also highlights the different costs of living across the country. Paying $200K for a 646 sq ft house or condo is unheard of in some cities. It is considered CHEAP in other cities.
I watched House Hunters last night and said "daaaaaaag" at some of the costs of the houses and condos. I consider some of those houses substandard and not worth even half their cost---but it's based on cost of living. The house hunter on last night's episode ended up purchasing the only condo that was worth purchasing. Even it was way more expensive than it would be in other cities.
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