Pecan city peaks list for not striking it rich
Thu, 25 Jul 2013 02:23:24 GMT —
A new study reveals that upward mobility may not be easy for those living in cities with high poverty rates .
Albany is number eight in the country when it comes to people who have less than 10 percent of a chance at striking it rich.
According to information from "The Economic Impacts of Tax Expenditures Evidence from Spatial Variation Across the U.S.," a study conducted by economist from two top universities, those in the 'Good Life City' who live below the poverty rate have a four percent chance of making it into the top tier of earners.
Some Albany residents say this is because of a lack of jobs, while others say it all depends on mentality.
"I believe that if you don't believe that you can do any better, then you're not going to put forth effort to do any better," said David Hawkins, Albany resident.
While Albany came in at number eight, Columbus, Georgia ranks number four in the nation for poor families who may never strike it rich.
Memphis is number one in the nation.