I saw this meme which as an attack on these trendy burger joints, you know the one. The gentrified ones, “we do things a little different here”, 11 dollars for mac and cheese, repurposed furniture for chairs and tables, motivational words on the walls etc. and its followed by “If you see this on your street expect your rent to rise up”
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I dont get it. How does it make rent go up?
In: 1
Trendy restaurants mean that more people come from outside the neighborhood to eat. The neighborhood becomes popular, so people figure out “hey, this is a cool place to live in”. So there’s a rise in demand for apartments in the neighborhood, so landlords feel free to raise the rent.
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