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Negative impacts of gentrification on the economy
Negative impacts of gentrification on the economy
Effects of gentrification on the economy
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Bibliography DiPasquale, Denise. “Rental Housing: Current Market Conditions and the Role of Federal Policy.” Cityscape Vol. 13, No. 2, US Department of Housing and Urban Development (2011): 57-70. Denise Dipasquale’s article opens up with an introduction to the condition of America’s housing market. She explains that the rental housing market was put into a difficult situation along with the foreclosure crisis. Denise Dipasquale highlights some of the hardships faced by the rental housing market, such as rising vacancy rates and lower renter income. She argues that “the largest issue facing rental housing is the credit crisis and its implications for the multifamily mortgage market” (65). To support her argument, Dipasquale uses government …show more content…
His argument is that racial tensions and discriminatory practices kept blacks and whites separated. Mohl highlights the national phenomenon of whites moving to suburbs and blacks moving to cities. He also mentions that most cities had a housing market for blacks and a housing market for whites. In the second half of the article, he argues that an attempt to cross the race line by blacks was often met with violence. To support his arguments, Raymond Mohl uses other journal articles and statistics on housing and …show more content…
Mohl found that federal officials were not willing to challenge local customs and laws, leaving black housing projects in black neighborhoods and white housing projects in white neighborhoods. The white leaders of Dade County were planning on moving a black neighborhood to expand the business district. Although the plans were never sought through, Mohl feels this is important because it gives insight into future policies of Dade County. Raymond Mohl uses Miami newspapers, other journal articles, and Dade County records to support his argument. Reassessing Rent Control: Its Economic Impact in a Gentrifying Housing Market. (1988). Harvard Law Review, Vol. 101, No. 8, Harvard Law Review Association (June 1988): 1835-1855. The author of Reassessing Rent Control focuses on the gentrification of the housing market and argues against the common claim that rent control is inefficient and counterproductive. To support his claim, he first describes gentrification and its effect on the housing market. Then he proposes elements to make an effective rent control ordinance. Lastly, he supports his proposal by describing how it will operate in a gentrifying market. The author uses other journal articles, books, and housing studies to support his
Michelle Boyd’s article “Defensive Development The Role of Racial Conflict in Gentrification” also focuses on gentrification addressing the failure to explain the relationship between racial conflict and its effect on gentrification. This article adds a new perspective to gentrification while studying the blacks as gentrifiers.
Lance Freeman tackles the issue of gentrification from the perspectives of residents in the gentrified neighborhood. He criticizes the literature for overlooking the experiences of the victims of gentrification. The author argues that people’s conceptions on the issue are somewhat misinformed in that most people consider it as completely deplorable, whereas in reality, it benefits the community by promoting businesses, different types of stores, and cleaner streets. These benefits are even acknowledged by many residents in the gentrified neighborhood. However, the author admits that gentrification indeed does harm. Although gentrification does not equate to displacement per se, it serves to benefit primarily homeowners and harm the poor. Additionally,
The loss of public housing and the expanse of the wealth gap throughout the state of Rhode Island has been a rising issue between the critics and supporters of gentrification, in both urban areas such as Providence and wealthy areas such as the island of Newport, among other examples. With the cities under a monopoly headed by the wealth of each neighborhood, one is left to wonder how such a system is fair to all groups. Relatively speaking, it isn’t, and the only ones who benefit from such a system are white-skinned. With the deterioration of the economic status of Rhode Island, and especially in the city of Providence, more and more educated Caucasians are leaving to seek a more fertile economic environment.
Another noteworthy urban sociologist that’s invested significant research and time into gentrification is Saskia Sassen, among other topical analysis including globalization. “Gentrification was initially understood as the rehabilitation of decaying and low-income housing by middle-class outsiders in central cities. In the late 1970s a broader conceptualization of the process began to emerge, and by the early 1980s new scholarship had developed a far broader meaning of gentrification, linking it with processes of spatial, economic and social restructuring.” (Sassen 1991: 255). This account is an extract from an influential book that extended beyond the field of gentrification and summarizes its basis proficiently. In more recent and localized media, the release the documentary-film ‘In Jackson Heights’ portrayed the devastation that gentrification is causing as it plagues through Jackson Heights, Queens. One of the local businessmen interviewed is shop owner Don Tobon, stating "We live in a
Charles, Camille (2003). The dynamics of racial residential segregation. Annual Review of Sociology, 167. Retrieved from http://jstor.org/stable/30036965.
In his article, “Race and Housing in the Postwar City: An Explosive History,” Raymond Mohl focuses on suburbanization and racial segregation in post-World War II America. Due to discriminatory practices in the housing market,
Farley, J. E. (2012). Living Apart: Housing Segregation in America. In J. E. Farley, Majority-Minority Relations, 6th Edition (pp. 310-342). Pearson.
In “The Big Short”, this movie about the economic collapse of 2008 in America highlights how Americans of all racial backgrounds were hit hard when the housing market collapsed. The film provides a very compelling argument and describes how the market crashed because banks began to give out more unstable loans out to people in order to sell more properties, which eventually led to the housing market to be built upon millions of risky loans. This practice grew until the housing market became too unstable because of all the risky loans and resulted in an economic crash. The housing market collapse led to millions of Americans to lose their homes because of foreclosures and led to massive amount of homelessness and unemployment since the Great
After developing the background behind gentrification and the history of the two neighborhoods, Freeman dives into the lives of the residents living in these neighborhoods within the next two sections of the text. From these sections, Freeman develops the following concepts: the benefit of improved amenities, the fear of displacement, the presence of whites, the original resident’s hostility against whites, and the neighborhood effect. These concepts help explain the issues behind gentrification and provide rationale for his proposal to minimize the detrimental effects of gentrification while keeping its benefits.
As the lease of my apartment is coming to an end it had me thinking of achieving my own American Dream of home ownership but as I do my research I find the dream is far from coming true. I am sure that the issue of housing prices and rent rates are what most of us Bay Area residents talk about and debate. It is an issue that needs to be addressed by the officials of the area, city mayors, affordable housing committees, social justice activists,lawmakers, and even employers. Skyrocketing prices, low inventory, and investors’ bidding wars are not only pushing the middle and lower classes out of San Francisco and the Bay Area out but will completely eliminate them.
Gentrification is the keystone for the progression of the basic standards of living in urban environments. A prerequisite for the advancement of urban areas is an improvement of housing, dining, and general social services. One of the most revered and illustrious examples of gentrification in an urban setting is New York City. New York City’s gentrification projects are seen as a model for gentrification for not only America, but also the rest of the world. Gentrification in an urban setting is much more complex and has deeper ramifications than seen at face value. With changes in housing, modifications to the quality of life in the surrounding area must be considered as well. Constant lifestyle changes in a community can push out life-time
From slavery to Jim Crow, the impact of racial discrimination has had a long lasting influence on the lives of African Americans. While inequality is by no means a new concept within the United States, the after effects have continued to have an unmatched impact on the racial disparities in society. Specifically, in the housing market, as residential segregation persists along racial and ethnic lines. Moreover, limiting the resources available to black communities such as homeownership, quality education, and wealth accumulation. Essentially leaving African Americans with an unequal access of resources and greatly affecting their ability to move upward in society due to being segregated in impoverished neighborhoods. Thus, residential segregation plays a significant role in
Furthermore, both articles “Gentrification: A Positive Good For Communities” and. “The Deeper Problems We Miss When We Attack ‘Gentrification’” exhibit their opinion on the positives of gentrification and the potential of “revitalization” in low-income urban communities. Badger argues that gentrification brings nothing more than further opportunities for urban communities while integrating citizens of different social classes. Furthermore, she continues to question if gentrification is in fact the monster that brings the prior expressions against gentrification where she says “If poor neighborhoods have historically suffered from dire disinvestment, how can the remedy to that evil — outside money finally flowing in — be the problem, too?”(Badger) Stating that the funds generated from sources external that are brought into these communities can’t be problematic.
It is often easy to castigate large cities or third world countries as failures in the field of affordable housing, yet the crisis, like an invisible cancer, manifests itself in many forms, plaguing both urban and suburban areas. Reformers have wrestled passionately with the issue for centuries, revealing the severity of the situation in an attempt for change, while politicians have only responded with band aid solutions. Unfortunately, the housing crisis easily fades from our memory, replaced by visions of homeless vets, or starving children. Metropolis magazine explains that “…though billions of dollars are spent each year on housing and development programs worldwide, ? At least 1 billion people lack adequate housing; some 100 million have none at all.? In an attempt to correct this worldwide dilemma, a United Nations conference, Habitat II, was held in Istanbul, Turkey in June of 1996. This conference was open not only to government leaders, but also to community organizers, non governmental organizations, architects and planners. “By the year 2000, half the world’s people will live in cities. By the year 2025, two thirds of the world population will be urban dwellers ? Globally, one million people move from the countryside to the city each week.? Martin Johnson, a community organizer and Princeton professor who attended Habitat II, definitively put into words the focus of the deliberations. Cities, which are currently plagued with several of the severe problems of dis-investment ?crime, violence, lack of jobs and inequality ?and more importantly, a lack of affordable and decent housing, quickly appeared in the forefront of the agenda.
Block, W. (n.d.). Rent Control: The Concise Encyclopedia of Economics | Library of Economics and Liberty. Retrieved February 24, 2014, from Web site: http://www.econlib.org/library/Enc/RentControl.html