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1/8/2008 2:51:51 PM EDT
Gentrification...is it good, bad?

What are you thoughts. I think it is when developers go into an area and revamp it, making it cleaner and safer, but I'm not exactly sure...

Poll in bound.

Feel free to explain why...

The only downside I can see, is that it may make the area more expensive, drving some of the lower income people out, but then again, it may open up better paying jobs in the area too.
1/8/2008 3:02:54 PM EDT
[#1]
43 views and no reason why anyone voted?
1/8/2008 3:06:52 PM EDT
[#2]

Gentrification, or urban gentrification, is a phenomenon in which low-cost, physically deteriorated neighborhoods undergo physical renovation and an increase in property values, along with an influx of wealthier residents who may displace the prior residents.[1][2]

Proponents of gentrification focus on the benefits of urban renewal, such as renewed investment in physically deteriorating locales, improved access to lending capital for low-income mortgage seekers as their property values increase, increased rates of lending to minority and first-time home purchasers to invest in the now-appreciating area and improved physical conditions for renters.[3] Often initiated by private capital, gentrification has been linked to reductions in crime rates, increased property values, increased tolerance of sexual minorities[4], and renewed community activism.[citation needed]


en.wikipedia.org/wiki/Gentrification
1/8/2008 3:08:13 PM EDT
[#3]
And where do the po' folk go? Why, they go to another poor ghetto... which then becomes the next gentrification project... 'cause the prices are low.
1/8/2008 3:08:42 PM EDT
[#4]
Only when they dont get the government to sieze properties for them.
1/8/2008 3:10:58 PM EDT
[#5]

Quoted:
And where do the po' folk go? Why, they go to another poor ghetto... which then becomes the next gentrification project... 'cause the prices are low.


I can only think of the Chicago slums.

The crime rate of all the displaced folk moving in was shocking to those already living in the "new" slum.
1/8/2008 3:12:17 PM EDT
[#6]
My neighborhood is being gradually gentrified by the homeowners.  Of course much of the work is being done by contractors, but it's got nothing to do with developers.
1/8/2008 3:15:59 PM EDT
[#7]

Quoted:
Only when they dont get the government to seize properties for them.


Agreed it can and usually is positive just not when enabled by government invoking eminent domain.
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