Super Rich Cities with Serious Poverty Problems

Below are some of the wealthiest cities in the world that are consistently ranked as the best places to live. However, for all their glitz and glam, many of these countries have a dark side that isn’t so apparent at first glance. A large chunk of their population are struggling to make ends meet and many can’t even afford a place to live. Now let’s have a look at these five super rich cities that are basically falling apart due to their growing poverty crisis.\r \r 1. New York City, United States\r \r New York City has a lot going for it such as the fact that it is home to an estimated 389,000 millionaires, the second of any city in the world. It is also ranked as having the second highest GDP for a metropolitan area. However, New York City is also well known for its insane rent prices which leaves many of its residences struggling to keep a roof over their heads. Many are simply forced to live on the streets which is pretty dire especially during NYC’s infamous bitter winters. In 2010 the homeless population was recorded at just over 53,000. By 2015, that number skyrocketed to an all time high of 67,000.\r \r 2. Vancouver, Canada\r \r Vancouver is by far one of Canada’s most popular cities particularly for filming, hence its nickname “Hollywood North.” But like New York City, the cost of living over there is unbearable, and Vancouver is ranked just behind Hong Kong in terms of least affordable housing in the world. The median cost of a house over there is over $700,000. Because of this, one in every person in Vancouver, or about 72,000 people, is living in poverty. There’s also the Downtown Eastside neighborhood which is the cheapest but most dangerous due to the high crime rates.\r \r 3. Seattle, United States\r \r Even though it has been touted as one of the best cities in America for employment opportunities, Seattle actually has a huge wealth gap, where only the top 5% are having their salaries increased, while the bottom 40% remain stagnant. This leads to thousands of people either living in their cars, on the streets or in homeless shelters. And in recent years, at least three “tent cities” have popped up, and the mayor is looking forward to making them legal so they can regulate them better.\r \r 4. London, England\r \r Despite its long rich history and renowned landmarks, museums and universities, London is one of those cities that are being plagued by growing poverty rates. And like the others listed above, the biggest culprit is the growing cost of living while salaries, especially minimum wage, basically stay the same. At least 28% of the population is living in poverty which is exacerbated by the crazy high rent prices that the average Joe can barely afford. It also doesn’t help that there are at least one million young people between 16 and 24 who are unemployed.\r \r 5. Stockholm, Sweden\r \r Stockholm is easily one of the top ten regions in Europe with the highest GDP per capita. Their strong social programs help to keep most of their population afloat. However, this still isn’t enough as one in ten children are living in financially constrained situations. Between 2001 and 2011, the city’s poverty rate rose from about 8-9% to 15%, and it’s still growing. They’re also faced with a huge influx of Romanian immigrants who are prone to panhandling and living in slums.