You always hear people complain about gentrification and how the neighborhood is unaffordable. Who are the people who push for gentrification and what do they benefit from it?
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People who own the property get to sell it to wealthy developers for buckets of money, then the developers pay construction companies buckets of money to build cheap cookie-cutter condo buildings, then they’re sold to young professionals for buckets of money. The cities also make out well through all the permits and regulation fees they throw at the project, and through the increase in overall area property value.
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