The Pros And Cons Of Gentrification

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Gentrification is a process by which-low income central-city neighborhoods experience investment and renewal accompanied by an in-migration middle- and upper-middle-class residents. ("Pioneers of Gentrification: Transformation in Global Neighborhoods in Urban America in the Late Twentieth Century.")

Gentrification is broadly process of neighborhood selection that results in the physical demographic, and cultural transformation of a low-income area into a higher-value neighborhood. ("Pioneers of Gentrification: Transformation in Global Neighborhoods in Urban America in the Late Twentieth Century.")

Not only by relocation of well-off individual households, but also by developers, businesses, and institutions. ("Pioneers of Gentrification: Transformation in Global …show more content…
An early presence of Asians and rising proportions of Asian residents tended to be positively associated with gentrification, while the same was not true for a growing Hispanic presence. ("How "Gentrification" in American Cities Maintains Racial Inequality and …show more content…
As property values rise, so do property taxes. Despite all of the positive effects that result from gentrification, there are negative effects that result as well. Displacement is probably the most notorious of all. Displacement most frequently, refers to the forced involuntary dislocation of needy households. Another economic factor, which contributes to gentrification, is the imbalance between job growth and the housing supply. As the number of jobs in a city grows greater, the demand for housing grows greater. As the demand for housing grows greater, the cost of housing grows greater – this is a simple example of supply and demand. ("Gentrification and Socioeconomic Impacts of Neighborhood Integration and Diversification in Atlanta,

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