Essay On Gentrification

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Gentrification’s Positive Aspects on Broken Neighborhoods
A Study by The Urban Institute describes gentrification as being “a process wherby higher-income households move into low income neighborhoods, escalating the area’s property values to the point that displacement occurs.” Gentrification generally takes place in deteriorating urban or rural areas. The purpose of gentrification is to take struggling neighborhoods and stabilize them by increasing property value. Naturally the system isn’t perfect, as it has the side effect of displacement, which can cause some people to have too move to a different location, but overall this gentrification is much more beneficial than destructive on a large scale. All neighborhoods have to be improved …show more content…

Newman Kathe and Elvin Wyly described gentrification saying “It is the remaking of working-class space to serve the needs of middle- and upper-class people.” (Kathe,Wyly, 2010)Because investors directly profit from the homes that they rent that statement is somewhat true; however, the working-class is not harmed very much throughout the process. There have been many studies and almost all of them observe that a very small amount of people are actually forced into a financial situation where they must relocate. While gentrification is primarily a tool for investors, much more people benefit from the effects of it than those who don’t. Middle-class residents receive affordable housing and everyone who stays in the neighborhood gets to enjoy the new buildings, roads, and other improvements. Even though all of these improvements are good for the neighborhood it’s important to remember that at the end of the day, gentrification is a business venture for the high-class so it could be that some areas that really need gentrification do not receive it as gentrifying it would not be lucrative for the

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