Reader response: A long way to achieve wealth equality
In the article “How to Fix Wealth Inequality” (Hecht, 2014), the main thesis presented by author focuses on the causes of wealth inequality in the USA and the attempts to solve the problems. The gap of household wealth between the colored people and the white are large nowadays, the methods of changing the landscape are still in process. The author analyzed the current situation and raised people’s awareness towards wealth inequality. This essay will discuss the problem of institutional investors, who occupied household resources of low-income families; and provide an effective approach in China for solving the problems. It will conclude with personal reflections and suggestions of this situation.
Consider the Hecht’s statement of causes the household inequality, one of the reasons is that houses purchased by institutional investors. He wrote that “institutional investors have spent $22 billion to buy low-cost, foreclosed single-family homes with the intent of holding them as long-term rental properties” (Hecht, 2014). It is obvious that some of the low-income families are unable to purchase the houses that they deserved, and they have to rent houses to satisfy their living needs. …show more content…
Household wealth inequality is a serious problem in the USA, which results in expansion of wealth gap. The current efforts made by the USA government to changing the household wealth inequality, like obtaining assistance from Financial Empowerment Fund, make education more affordable, and supports from financial institutions still have to “go a long way” (Hecht, 2014). From my point of view, reduce the number of institutional investors can be the first step to narrow the wealth gap and provide more houses to low-income families. Overall, it is time-consuming battle to fight with the wealth inequality in the
In the article “How to Fix Wealth Inequality” (Hecht, 2014), the main thesis presented by author focuses on the causes of wealth inequality in the USA and the attempts to solve the problems. The gap of household wealth between the colored people and the white are large nowadays, the methods of changing the landscape are still in process. The author analyzed the current situation and raised people’s awareness towards wealth inequality. This essay will discuss the problem of institutional investors, who occupied household resources of low-income families; and provide an effective approach in China for solving the problems. It will conclude with personal reflections and suggestions of this situation.
Consider the Hecht’s statement of causes the household inequality, one of the reasons is that houses purchased by institutional investors. He wrote that “institutional investors have spent $22 billion to buy low-cost, foreclosed single-family homes with the intent of holding them as long-term rental properties” (Hecht, 2014). It is obvious that some of the low-income families are unable to purchase the houses that they deserved, and they have to rent houses to satisfy their living needs. …show more content…
Household wealth inequality is a serious problem in the USA, which results in expansion of wealth gap. The current efforts made by the USA government to changing the household wealth inequality, like obtaining assistance from Financial Empowerment Fund, make education more affordable, and supports from financial institutions still have to “go a long way” (Hecht, 2014). From my point of view, reduce the number of institutional investors can be the first step to narrow the wealth gap and provide more houses to low-income families. Overall, it is time-consuming battle to fight with the wealth inequality in the