The Effects Of Gentrification

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Gentrification brings in money and good investments into poor neighborhood, but the money and investments does not help the old residents; it only helps real estate agents. Gentrification may also make the city safer and cleaner than before but it harms old residents. The idea of gentrification is bad because prices goes up and with prices going up, people are either losing their homes or businesses or both. Gentrification affects old residents and business in a bad way, which causes the old residents to leave because of the rich taking over.

According to an article called, “7 Reasons Why Gentrification Hurts Communities of Color” by Patricia Valo, when wealthier people move into poor neighborhoods, landlords raise their rents to cash in …show more content…

She was living in Sacramento, California her whole life. The first couple of years she was doing well with paying rent in her new gentrified city until her landlord went up a couple of hundred dollars.The reason he did that was because he wanted the new residents to live in his property and plus since everything else was high, rent for his property should be as well. Living in a neighborhood for so long and being pushed out of it, takes away good memories. The gentrification in her city affected her because she had to …show more content…

The investors and new incoming homeowners gets to make more money than what they actually brought the poverty for. The way they make their money is by flipping the houses which means they renovate the houses and then sell the homes for a higher price. In the York and Fig series, they mention Steve Jones, a man who is known has a house flipper in Highland Park. A section in the series, The Gentrification Machine, stated “He bought it for $280,000, he tells me, put another $140,000 or so into the rehab, and sold it for – now he’s laughing – “$530,000! Oh my gosh!”. These prices on the houses are allowing old residents to leave and new residents to come because the price is good enough for them. Steve Jones has people invest in his house flipping projects. The idea of house flipping isn’t a bad thing because it makes the houses look nice and fancier than before, but driving old residents out because they can’t afford the houses isn’t right. This idea causes big changes and is another reason why old residents are

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