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The Indicator from Planet Money

Building generational wealth in rural America

The Indicator from Planet Money

NPR

Business

4.79.5K Ratings

🗓️ 20 May 2024

⏱️ 11 minutes

🧾️ Download transcript

Summary

Homes are not just where we eat and sleep, but one of the primary ways people build generational wealth in the U.S. But with home shortages and harsh climates, rural America's path to building that wealth looks a little different than other parts of the country. Today on the show, we focus in on housing challenges in Alabama's Black Belt and one innovative solution to preserving generational wealth.

Related:
There is growing segregation in millennial wealth

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Transcript

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0:00.0

NPR.

0:03.0

I have lived in a lot of different cities from Chicago to Boston,

0:18.0

from New York to DC, and all these places have the same basic problem.

0:23.0

Too many people, not enough affordable housing.

0:26.0

And so occasionally I have thought,

0:29.0

what if I moved away from the big cities, right?

0:32.8

Somewhere to the country, you know, where the corn grows high

0:35.9

and the housing costs are low.

0:38.0

I hate to burst your bubble Adrian,

0:40.1

but the country has its own housing troubles.

0:43.0

Welcome back, Stephen Bessaha,

0:45.0

Golf State's Newsroom reporter and Dream Crusher.

0:48.0

I wear many hats.

0:50.0

But it's true, while the grass might be greener when you're surrounded by asphalt,

0:54.8

rural areas, they have their own housing crisis, a rural housing crisis.

0:59.5

And the reason that's important beyond, you know, needing a place to just live is that housing is one of the main ways people build generational wealth.

1:08.3

Okay. As the name implies, it's the passing down of wealth from one generation to another. Housing is used to do that in both urban and rural spots,

1:17.2

but like it often goes, things work just a bit differently, whether you live in urban America or the country.

1:23.0

This is the indicator for Planamani.

1:26.0

I'm Adrian Ma.

1:28.0

And I'm Stephen Bissaha from the Gulf State's newsroom.

1:30.0

We're a family of public radio stations in Mississippi, Alabama, and Louisiana.

...

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