5 ms·
Rent, property and living prices being adjusted to the purchasing power of the western visitors driving the original low income population away from whichever r
by ulzeraj 5y ago
Rent, property and living prices being adjusted to the purchasing power of the western visitors driving the original low income population away from whichever region gets more popular.
Its similar to what I call hipsterization. Rich and privileged persons moving to an undeveloped area they deem cool, fancy cafes are opened and real state prices skyrocket.
- selfhoster11 5y agoFYI, hipsterization is called "gentrification" by most people talking about the phenomenon of original communities being displaced by an influx of wealthier workers (and they are, by and large, hipsters in the areas where I've seen it first hand)
- chucksta 5y agoIts not always a phenomenon anymore, afaik it's a known tactic for developers now