Gentrification

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Gentrification

Advantages

  • Affordable solutions for incoming residents. Young, childless graduates.
  • Improved quality of life.
  • Crime rates drop.
  • Businesses & gvnmts usually earn higher revenues.
  • Eases the strain on infrastructure & public services while lowering vacancy rates.

Disadvantages

  • Prices rise (house prices) and current, low-income residents have to be kicked out of their homes.
  • Wages don't keep up with increasing house prices.
  • Demographics and shops, etc. change - loss of identity.
  • Local businesses affected as incomers have different standards & preferences.
  • Locals carry resentment to newcomers which can result in protests, destroyed property or even violence.

Evaluation

Change is a good thing, therefore gentrification is a process that is largely advantageous because the place can improve economically, socially & environmentally. However, The current residents are negatively impacted and the local government should find a solution for them to be prepared for whatever may happen so that they do not end up on the streets and can better manage their attachment to the place.

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