Dang.
I was aiming for "good" bully.

No, Speyside is right. There are lots of poor whites folk.
I am sure you know…..

Where/how do we formulate our opinions? Life experiences. Reading. Learning. Some of the videos I post are a summarization of lots of reading and research. The author of that video wrote a book on it.

Did you come to your opinions through nothing but meditation and PFM? (pure fkn magic)

Nope... you lived, you learned, you read, you spoke with others... and then you thought about it (hopefully) and came to your own conclusions.

cause of poverty aside, a better question may be what perpetuates it in our life time?

part, and I really am saying part, of how a lot of poverty or inability to achieve wealth in America has happened is not widely known and not well publicized.

Home ownership is a major part of wealth building...understand that "wealth" is not the same as being independently wealthy, but simply being free from assistance.

How many here (or your parents, grandparents) have personally been excluded from consideration for buying homes in certain neighborhoods between 1900 and 2000?

How many here (or your parents or grandparents) met all qualifications for mortgages but were denied due to "red lining" (look it up) and forced to buy in designated neighborhoods?

How many here (or your parents or grandparents) served our country proudly in the military during World War II yet were not allowed to enjoy the benefits of college funds or discount housing benefits upon returning to the states?

Anyone aware that the GI Bill was for whites only?
Unfathomable, right?

How many here had parents or grandparents working for industries like the railroads but were not allowed union membership?

Just part of what happened and yet we blame the victims?

What's amazing is how many have been able to overcome these intentional obstacles. Truly some of the greatest America has ever produced.

How successful would succeeding generations of your family be today under those unfair limitations designed to produce failure...without at least some of the small inheritances passed down because of home ownership?

It's ugly. It happened. Fact.

Please see post 35...

+1

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They don't wanna hear that sh*t Frank. They don't want to know real history... just the nice tidy little history that fits their world view best...

That's all they want to hear... luckily they have plenty of people to tell them what they want to hear. It's mental slavery.

Frank, a home is a terrible way to gain wealth. A home on average appreciates. 3.5% to 3.8% annually. The average appreciation of the DOW average is what, about 14 %. Every dime of equity you have in the house above 20% should be borrowed against and invested. Then you make 10% on your money not 4 %. It is not quite that simple, but that is a close enough example for this discussion. Rich people do this all the time. They borrow against their assets and, invest and live off of the borrowed money. It is entirely legal, though not ethical in my mind. They only pay taxes on the money they pay on the loans each year. Otherwise I agree with the rest of your post.

If you're going to run that strat, you better do it quick before those rates hike.

True, we divested from a few stocks. Inflation and national debt is going to cause a market correction this year. I bought AJ Gallagher say 18 years ago. I paid about 30 per share, I sold for about 150 a share. Great stock and company, but hugely overvalued. We sold a few more like that.

being excluded from home ownership affects succeeding generations through lack of inheritance and the opportunities free property has afforded generations of the participating middle class.

I'm not talking about investment property(ies). I'm talking about residences, be they ever so humble!

On a side not, I believe your payback numbers are waaaaay off in many parts of the country, but that wasn't what I was getting at.

So you are not talking about a home as an investment, but rather wealth generation for numerous groups of people? The numbers I listed are the national average range, I do not know over how many years.

Also, what do you mean by free property?

I'm trying to stay with the initial question of causes of poverty but I was also looking more at perpetuating poverty.
There are many things contributing to that that have been obstacles to even many highly motivated hard working people.
I used a few examples of some that likely are not widely known and even more likely not a shared experience to 98.2% of us here.

like the GI Bill as one example. Simply was not available to every returning war vet.
Why?

Let's say a WWII vet returned home, took advantage of benefits and purchased a modest home, say a slab ranch, in one of the zillions of post war developments that energized and massively multiplied the middle class in America under Truman and well more under Eisenhower...let's say a 30 year old in 1950.
Maybe it cost between 12 and 15 thousand?

Upon the vet's death, the likely paid off house is inherited by the kid(s). Free property upon which anywhere from modest to maybe significant growth can result. Kids living better than parents happened a lot from generation to generation in many American families. Not much of that financial gain happens for generations stuck in tenements.

This extremely common scenario in America is just an example of a way for some families to avoid or stay out of poverty, or at least for those eligible. Not all were eligible.

I haven't mentioned restrictions of business loans, venture capital opportunities.

Despite what appears to be a limited to race position I am expounding, I am not limited to that belief.
I think we have a "poor class" in this country that is made up of more than a race or two. But I was trying to offer up how part of that class has been created and not blame the victims at the same time.

I only disagreed on the one point because I did not properly follow your meaning.

There are other very specific circumstances you could mention of hatred.

The Tuskegee airmen.
The deaths in Tulsa.
The effect of the KKK and other white supremacists
At one time votes counting as only 3/5 of a person.
The bondage of welfare
The inequity in prison sentences
The inequity in business loans
Et al

yeah, but I was heading down a narrower cause of poverty perpetuation

Democrats

Crushing your enemies. Seeing them driven before you. And to hear the lamentations of their women.

Alright, Conan... the Boob-arian