Re: Land rent and the working poor

On Mon, 9 Apr 2007 14:17:58 -0400, "sinister"
<sinister@xxxxxxxxxxxxxx> wrote:

http://www.washingtonpost.com/wp-dyn/content/article/2007/04/08/AR2007040800998.html

"...half of all 'working poor' families spend more than half their income on
rent."

Of course, "rent" in the vernacular sense encompasses but is not the same as
land rent. Though in urban areas, it's reasonable to assume a very large
fraction of vernacular rent is land rent.

As the poor almost always live in housing that is older and fully or
almost fully depreciated, it is safe to say that 90+% of their housing
cost is land rent.

-- Roy L
.

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