How We Force the Poor to Pay More

It's not too late! All University of Richmond faculty, staff, and students are welcome to participate as we continue our 2026 Fall read of Matthew Desmond’s book, Poverty, by America. 

Join Intersections on Wednesday, September 23, from 12:00 to 1:00 p.m. as we discuss Chapter 4: “How We Force the Poor to Pay More”

Meeting via Zoom: https://urichmond.zoom.us/j/86176568924?pwd=zpzeeEcXqaayMbfJWSXi3JYYnG86y1.1

In Chapter 4, Desmond investigates how housing and banking markets penalize low-income families through predatory pricing and exclusion. Drawing on empirical research, he reveals how landlords in poor neighborhoods extract higher profit margins and details how banks and fringe financial services siphon over $61 million daily in fees from vulnerable Americans.

As you read Chapter 4, consider:

• How does Desmond’s finding that landlords make higher profit margins in poor neighborhoods challenge the standard assumption that high rents simply reflect landlord risk and maintenance costs?
• What are the systemic barriers—such as credit scores, past evictions, and "mortgage deserts"—that prevent low-income families from escaping exploitative rental markets, even when monthly mortgage payments would be lower?
• In what ways does the financial system create a two-tiered economy, where traditional banks charge heavy overdraft penalties while fringe lenders and fintech services extract massive fees through "predatory inclusion"?
• Why do policies focused solely on raising incomes (like minimum wage increases or cash transfers) fall short if markets are permitted to absorb those gains through inflated rents and predatory financial fees?

No prepared answers are needed. Bring your questions, perspectives, and lived experiences to explore together.

For more information, contact Dr. Keith W. McIntosh at cio@richmond.edu.