Gentrification is fundamentally a dramatic increase in local prices. The change isn't usually driven by locals earning more but by new people moving in and pric

Gentrification is fundamentally a dramatic increase in local prices. The change isn't usually driven by locals earning more but by new people moving in and pricing the former residents out of the market. It's great for the new residents. It is terrible for the old – particularly old residents who don't own their own home or are otherwise unable to capitalize on the price shift.