Examining Poverty
Intergenerational poverty arises primarily from two aspects: limited access and lack of wealth accumulation.
A person born into poverty won't have the same access as someone born into a middle-income or wealthy family. They won't have the same educational opportunities – either because of cost or location – and in the same vein, they won't have the same access to transportation, health care, means of communication, or housing. This greatly impedes an individual's opportunities in almost every aspect of life.
Wealth is often passed down from generation to generation, but this is not always possible for families stuck in the cycle of poverty. Historically, one of the largest avenues for intergenerational wealth accumulation in the United States was homeownership, passing down houses from generation to generation. Each generation gains access to a large asset for security, borrowing, and the potential to sell. Homeownership has largely been inaccessible to those in poverty, and they are stuck renting – many times in unsafe or unfavorable living conditions.
Intergenerational poverty is not simply an issue of money, that's why those trapped in it often need additional support and resources to gain financial security and stability.
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