Why the rich people prefer building their homes in the periphery or outskirts of the city
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The income elasticity of demand for land is too low for urban poverty to come from wealthy individuals' wanting to live where land is cheap (the traditional explanation of urban poverty). ... The urbanization of poverty comes mainly from better access to public transportation in central cities.
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The income elasticity of demand for land is too low for urban poverty to come from wealthy individuals' wanting to live where land is cheap (the traditional explanation of urban poverty). ... The urbanization of poverty comes mainly from better access to public transportation in central cities.
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