As rent prices around the country continue to rise, more young people have been moving
into historically low-cost, inner-city communities.
Although this provides an affordable solution for incoming residents, it also leads to gentrification,
or the displacement of existing communities by wealthier newcomers . So is gentrification
a good or bad thing?
On average, first-wave gentrifiers are usually young, childless, college graduates.
Often, they’ll move nearer to their workplaces and public transit, and farther from the suburbs.
In the US, the Federal Reserve Bank of Cleveland reports that rapid gentrification has been
seen in cities like Washington DC, and Atlanta.
On the one hand, an influx of cash into previously poor areas tends to lead to an improvement
in the quality of life there.
Landlords and property owners are willing to invest more into their homes so as to increase
rent prices.
Crime rates drop, and local businesses and governments generally see higher revenues.
Gentrification also eases the strain on infrastructure and public services, while lowering vacancy
rates.
However, as the social and financial demographics of a low-income area change, the effects on
existing residents are mostly negative according to the ESRC Centre for Neighbourhood Research.
A sudden demand for housing raises rent costs, and without rent stabilization, many families
are unable to afford the inevitable increase.
This often leads to evictions, higher rates of homelessness, and increased housing demand
for still-affordable surrounding areas.
Gentrification also affects local businesses, as incomers have different standards and preferences.
As communities gentrify, locals tend to harbor resentments towards newcomers, going so far
as to protest, destroy property, and even physically attack new residents.
In San Francisco during the late 90s tech boom, an anti-gentrification group called
the Mission Yuppie Eradication Project, was responsible for slashing car tires, keying
expensive vehicles, breaking windows, and vandalism.
There are differing views on the role of gentrification in the way societies develop, and whether
or not this practice is ultimately beneficial or detrimental to a community.
Still, without significant opposition legislation, like rent control laws, or a decline in the
overall housing market, gentrification is an inescapable phenomenon as people seek out
affordable rent.
Race obviously plays a huge role in the picture, and it’s a generally touchy subject.
To learn about the White Privilege factor, check out this video from our friends at AJ+.