how does gentrification keep happening if there are less rich people than poor people?
In: 2
Depends on the definitions of “rich”.
Gentrification doesn’t need to have Daddy Warbucks or private jet levels of rich to happen. In fact, odds are that the people who are considered the top 10% will just setup shop somewhere already nice.
I think understanding what gentrification is will help.
Upwardly mobile people, mid level corporate jobs, entry level tech, etc all are more driving forces of gentrification. In fact part of what drives it is because of the cheaper properties available to them. The idea of “yeah I can deal with living in this cheaper area because it’s what I can easily afford… may as well tidy things up a bit, get the city to add a bus stop, improve my home to increase property values and because I like it, a yoga studio opens up since that’s the gym I go to, petition for a Whole Foods…” and boom, now it is gentrified. Many gentrification areas specifically cite the increase in middle class.
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