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City parenting has become a financial flex

The Economist:

Not ago Wicker Park, a neighbourhood on the north-west side of Chicago, was among America’s hippest neighbourhoods. On summer weekends young people with weird haircuts mobbed nightclubs. Vintage stores did a roaring trade in faded T-shirts from the 1980s. A few Puerto Rican restaurants, remnants of a poorer neighbourhood, sat uneasily alongside the new cafés serving cronuts and unlimited mimosas.

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