Mary: I’m Mary Walden with economist MW welcoming you to the economic perspective. Today’s program looks at high paying jobs and urban change. Mike, one of the biggest socioeconomic changes in our country in recent years has been the revival of many inner cities. Of course, this has brought change, with many neighborhoods being transformed from residences for low- and moderate-income folks to upscale housing for higher-earning people. Why has this occurred?
Mike: Summary Answer
- High paying individuals working in jobs in the urban core – tech, finance, professional
- High value of time
- So want access – bid more for accessible residences – transformation
- Something I wrote about 45 years ago
- I’m MW
Mary: And I’m Mary Walden for the Economic Perspective, an NC State Extension program from the Department of Agricultural and Resource Economics.