What does “gentrification” mean and what are “gentrified” neighboorhoods in modern day united states?
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It’s when wealthy or middle class people start buying up property in low-income neighborhoods.
Pros:
– poor neighborhoods get rejuvenated with new businesses and people wanting to invest.
– crime goes down
– home values goes up
Cons:
– lower income people get pushed away from their community centers.
– local cultures get diluted
– the crime and poverty don’t “go away”. They just relocate to the next “poor” area.
The reality:
It’s typically not a voluntary or intentional process. As housing costs in most cities continue to climb and wages continue to stagnate, middle-class people are increasingly forced to buy homes in poorer neighborhoods.
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