- Causes and effects. The reason gentrification is profitable has to do with big changes in the American economy.
- Gentrification comes from the British word, “gentry,” which refers to wealthy landowners. There is also a cultural aspect of gentrification.
- The word "gentrification" describes various changes occurring in urban neighborhoods, including economic ones brought on by the influx of more affluent.
- Gentrification is the process of more affluent people and businesses moving into historically less affluent neighborhoods.
- However, when large companies with an upscale and specialized workforce move into an area, the result is more often gentrification.
- Put simply, due to gentrification; an area becomes safer, more expensive, bustling, and more desirable. Gentrification is a controversial topic.
- Gentrification changes the character and cultural diversity of an area, often due to the destruction of aging buildings that are cheaper to replace than renovate.
- Some argue that gentrification has more pros than cons, and some speak in favor of negative aspects. It often boils down to a difference in political values.
- The CDC (Centers for Disease Control and Prevention) defines gentrification as the “transformation of neighborhoods from a low value to high value.”
- Government funds earmarked for urban renewal were commonly used to finance the wholesale gentrification of working-class or poor neighborhoods.