What are the problems gentrification brings? Isn’t fixing up a neighborhood a good thing? How can gentrification stop?
In: 9
> Isn’t fixing up a neighborhood a good thing?
#ELI5
**Simply**:
* Fix up the neighborhood
* Property values increase
* Houses which used to sell for $100,000, now sell for $300,000
* Rents raised from (example) $1,000/month to $2,500/month.
* People who can afford $1,000 rent, can’t stay any longer.
* Long time residents forced to move out
That is the SIMPLE explanation, but there’s tons more nuance and complications to that. Problems like this can be addressed, if done carefully and respectfully.
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