The only thing I really knew about gentrification was the famous speech from Boyz 'N The Hood about gentrification.
The owner responded.
Boyz 'N The Hood never owned property
In their view, gentrification builds up neighborhoods and that increases the value of all properties in the area. Once you own property, you are for anything that increases the value of your property.
4 comments:
Gentrification isn't an issue for people who own property at all. Its an issue for the people who RENT said property, because when the property value goes up, the rent goes up too.
It's an issue for both, however, you're right the winners are the property owners and the losers are the renters.
Renters are not losers. The rent may be higher but the neighborhood is safer and there are other benefits.
Renters are also very mobile and can easily find something in their price range elsewhere.
Also a good point.
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