Gentrification

Gentrification is the process of renewal and rebuilding accompanying the influx of middle-class or affluent people into deteriorating areas that often displaces poorer residents.

Gentrification vs. Urban Renewal

In general, gentrification is a form of urban renewal, but tends to be more organic and driven by economics, as opposed to classic urban renewal, which tends to be a more direct form of government intervention (either direct rehabilitation or Section 8 housing).

Criticism

• Gentrification has the effect of forcing economically disadvantaged people out of an area.
• Gentrification can force economically disadvantaged people to move to locations which are more remote from workplaces.
• Gentrification is the natural effect of market forces. Attempts to regulate gentrification inevitably results in market distortions, which have the ultimate result of not benefiting the economically disadvantaged.
• Gentrification results in improvements in urban utilization, resulting in a more efficient use of spaces, reduced energy consumption and improving transportation efficiency.
• Gentrification reduces urban blight.
• Gentrification uses free-market forces to improve a municipality's housing stock, and the same market forces also results in an overall improvement of the housing stock available to people who are displaced ("A rising tide raises all ships" analysis).
• Gentrification can force economically disadvantaged people to move to locations which are more remote from workplaces.
• Gentrification can diminish unique characteristics of a city.
• Gentrification forces out some types of businesses that are favored by economically disadvantaged people.
• Gentrification either encourages or discourages formula retail establishments (depending on the particular analysis).
• Gentrification either encourages or discourages independent or unique retail establishments (depending on the particular analysis).
• Gentrification has a tendency of improving retail infrastructure.

External Links

• Is Gentrification Really a Problem? - New Yorker