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Gentrification is a bad word for a positive outcome. When people come to a neighborhood and invest a lot of money and making it a nicer place, it benefits the c
by silexia 6y ago
Gentrification is a bad word for a positive outcome. When people come to a neighborhood and invest a lot of money and making it a nicer place, it benefits the current residence who can sell their homes for higher prices if they wish. If the current residents wish to stay, they benefit from the improvements.
- hef19898 6y agoI have to disagree. In the neighborhoods most like to suffer gentrification, people rent and don't own their living space. Increasing real estate prices only mean higher rents, making it impossible for existing residents to stay, long term, in their apartments. Only owners can sell, usually to investors. This is a major rent driver. Up to the poitn were small grocery shops can#t afford it anymore and have to close. And I am not sure how us building a house for us, and only us, had any positive impact on any of our neighbors.