Plunging levels of home ownership and an increased reliance on state benefits to top up salaries have meant that Britain’s middle-income families increasingly look like the poor households of the past, according to one of the UK’s leading thinktanks.
WASHINGTON — In cities across America, the middle class is hollowing out.
A widening wealth gap is moving more households into either higher- or lower-income groups in major metro areas, with fewer remaining in the middle, according to a report released Wednesday by the Pew Research Center.
In nearly one-quarter of metro areas, middle-class adults no longer make up a majority, the Pew analysis found. That’s up from fewer than 10 per cent of metro areas in 2000.
Canada’s system of supply managed eggs, chicken and dairy costs the poorest households almost five times more than wealthy families when its effects are adjusted proportional to income, according to a new study.
The IFS says:
The last decade as a whole was characterised by a very poor performance for average incomes. Between 2002–03 and 2009–10, no single year saw an increase in median income of more than 1.0%.
Why does a Richmond neighbourhood with many expensive mansions also appear to be one of the city’s poorest?
The upscale neighbourhood of Thompson, where properties typically sell in the $1-million to $3-million range, ranks high for poverty, according to Statistics Canada figures.
But former Richmond Mayor Greg Halsey-Brandt said the predominantly single-family Thompson neighbourhood has “the most expensive homes and the second highest level of household poverty” in Richmond because many residents under-report their global incomes to Canadian tax officials.