What does “gentrification” mean and what are “gentrified” neighboorhoods in modern day united states?

Question

What does “gentrification” mean and what are “gentrified” neighboorhoods in modern day united states?

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Answer 1

Gentrification is the process where wealthy individuals start moving into relatively poorer neighborhoods. Sounds like a good thing, right? They’ll bring in more businesses and improve the neighborhood’s status. However, it also causes an increase in the cost of living in the neighborhood – rent goes up, stores become more expensive – which hurts the neighborhood’s existing population.