Gentrification Research Paper

Insight No. 5

Urbanizing neighborhoods through gentrification

Gentrification is the brand new concept of urbanizing the neighborhood. In addition, the piping hot urban housing issue, it can affect several stakeholders in one clean stroke. In the process of gentrification, some people are likely to benefit, while others may be simply left out. Whatever the case, the seemingly innocent and innocuous looking word “G” may affect the current real estate industry significantly. The process of gentrification is all about urban renewal, economic opportunity, upward mobility, poverty and foreclosures. The effect of gentrification could be harsh and revealing at the same time, as the process of urbanization spreads across the poor and aggrieved neighborhood

The gentrification is the new real estate buzzword. It could initiate a big change in the real estate trend for 2018 and beyond. It is a trade-off scenario when a developer occupies a derelict living space, converts it into a living zone and later sells it to someone who can buy it by paying a steep price. Will gentrification see a steep growth during the next decade? Almost all real estate surveys suggest so with the highest growth occurring in larger metropolitan cities. As more numbers of Americans prefer to stay in affluent neighborhoods that offer them the goodness of urban lifestyle, the progression of the process of gentrification will accelerate almost

Apparently, those who are experiencing the onslaught of gentrification are ridiculing the plan as something that is “discriminatory and race prejudiced.” Gentrification is also an emotive issue. The original residents may never like to move away from their homes. However, intercity communities are in a disadvantaged status now. A raising cost of living and dwindling rates of disposable incomes are two significant factors that affect inter-racial communities today. Now, new evidences and ground reports suggest us that positive outcomes far outweigh perceived disadvantages. It is true when you consider various factors at a macro level. In reality, revitalization of neighborhoods may accrue tangible economic benefits to the residents. Who would not like to see brand new investments in infrastructure and ballooning economic activity in the impoverished neighborhood? In the meanwhile, the gentrification process needs a gentle touch and smooth handling. In fact, racial and economic fault lines should never be the main reasons for possible miscarriage of social justice and income