Gentrification 2020-06-24 08:00:00

Gentrification

Gentrification is a process that transforms a neighborhood from low value to high value. Home prices rise as a neighborhood becomes more gentrified. Overall, the neighborhood improves but not without negative side effects. Those residents who were in the neighborhood before gentrification began are often pushed out by rising home prices, rents, and an overall increase in living expenses. As more people with higher-paying jobs move into the neighborhood, the cost of living goes up. New businesses move in as well and traffic often increases. The speed of gentrification can be fast but it depends on the area.

 


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