The one thing rich parents do for their kids that makes all the difference
▻https://www.washingtonpost.com/news/wonk/wp/2016/05/10/the-incredible-impact-of-rich-parents-fighting-to-live-by-the-very-b
Wealthy parents are famously pouring more and more into their children, widening the gap in who has access to piano lessons and math tutors and French language camp. The biggest investment the rich can make in their kids, though — one with equally profound consequences for the poor — has less to do with “enrichment” than real estate.
They can buy their children pricey homes in nice neighborhoods with good school districts.
“Forty to fifty years of social-science research tells us what an important context neighborhoods are, so buying a neighborhood is probably one of the most important things you can do for your kid,” says Ann Owens, a sociologist at the University of Southern California. “There’s mixed evidence on whether buying all this other stuff matters, to0. But buying a neighborhood basically provides huge advantages.”