Nouveau poor

Nouveau poor ("new poor"), refers to a person who had once owned considerable wealth, but has now lost all or most of it. This term is generally used to emphasize that the individual was previously part of a higher socioeconomic rank, and that such wealth that provided the means for the acquisition of goods or luxuries is currently unobtainable. These people are not actually poor, but compared to their previous rank, it seems as if they are.^[1]

The trend of the once-middle class descending into a state of poverty has become increasingly prevalent in the period following the post-2007 global financial crisis in the USA.

See also

• Downsizing
• Downward mobility
• Middle class squeeze
• Nouveau riche

References

External links

• Roberts, Joel John (December 08, 2008). "A Guide For the Nouveau Poor". LA's Homeless Blog. http://www.lahomelessblog.org/2008/12/guide-for-nouveau-poor.html. Retrieved 2009-08-27.