Feeling the Pinch
- If the middle class seems like it's under siege, well, that's because it is.
Across the Chicago metropolitan area, 51 percent of households are maintaining their foothold in the coveted class long associated with home ownership and financial security, according to a Pew Research Center analysis of government data released Wednesday. That's down from 56 percent in 2000.
For those who have exited the middle class, the trajectory hasn't been good: More Chicago-area households slipped into the ranks of the lower income than the upper income from 2000 to 2014, the analysis of U.S. Census Bureau data found. Wages in all earning groups have fallen during that time.
If the trend continues, local households led by middle-income earners could soon lose the majority.
Detroit II is a lot closer than anyone is noticing - as the middle class can't afford Chicago, they leave. As they leave, revenues fall. As revenues fall....you getting the picture yet Rahm?
Labels: money questions