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From its definition, it follows that gentrification will have resulted in existing resident landowners getting outbid and/or renters outbid or otherwise being f
by temp-dude-87844 6y ago
From its definition, it follows that gentrification will have resulted in existing resident landowners getting outbid and/or renters outbid or otherwise being forced from their homes. To avoid gentrification, you need to devise a market distortion (e.g. incentive, regulation, etc) to keep people in their homes, or provide them with comparable replacement homes that are still within the community.
But, then you must also discourage or disincentivize the relocated residents from immediately losing and/or selling these homes to newcomers who are willing to pay more. Owner-occupied homes allow each owner to evaluate whether or not they wish to sell, whereas renters rarely get a say. If all owners willingly sell to richer newcomers, would you look back and consider the community to have gentrified?
Rent control is one such market distortion. Prop 13 is another. These tools serve to keep certain houses off the market, while largely allowing their residents to stay in place.
These mechanisms are irrespective of supply, because the supply is always finite. The mechanisms act on the demand-side.