Gentrification

Viga

Gentrification is a mixed matter for me.

On one hand old neighborhoods that are in urban decay or have problems get revitalized. I saw that happen to Columbia Heights here in DC and it's almost there in the U st corridor. It opens up new housing and freshness and a new place for stores and entertainment. One the other hand it rips what culture a place once had. It displaces low income families pushing them off to neighboring places.(PG county, maybe Montgomery County.) Then there's less affordable housing creating a problem for them.It all about money and creating a homogeneous city.

Any thoughts?

sK0pe

I'm not very well informed of this type of situation because Australia seems to be a fairly youngish country.
However there are low socioeconomic areas that occasionally do get overhauled or become popular with investors but there is no culture specific to the people that live in these areas so I'm neutral on the matter, from my experience.

Crime levels are always higher in Government housing areas.

Rym

Gentrification does mean a general rise in income, standard of living, and prosperity, which is always a good thing: someone is moving into these houses and spending money in these stores, and there was a market there to provide. The only drawback is that it pushes anyone who isn't on the upswing out of the area. This is self-limiting in the long run, however. New York, for example, needs millions of unskilled laborers to function, yet has an extremely high cost associated with living nearby. This eventually either drives housing prices to a level that's reasonable or raises the average pay for unskilled work. Everybody wins.

Apreche

Gentrification does mean a general rise in income, standard of living, and prosperity, which is always a good thing: someone is moving into these houses and spending money in these stores, and there was a market there to provide. The only drawback is that it pushes anyone who isn't on the upswing out of the area. This is self-limiting in the long run, however. New York, for example, needs millions of unskilled laborers to function, yet has an extremely high cost associated with living nearby. This eventually either drives housing prices to a level that's reasonable or raises the average pay for unskilled work. Everybody wins.

Or you get Monaco.