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Urban Gentrification

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Gentrification connotes the influx of wealthier people into an existing urban area and a related increase in the property value, rent, and changes in culture and character. More often, gentrification is negatively portrayed as the displacement of poor communities through the arrival of rich outsiders. Gentrification arises from an increased interest in a certain urban district leading to many wealthy people buying and renovating houses in the area. The real impacts of gentrification are often intricate, contradictory and vary depending on the type of urban center. In a way, gentrification has greatly altered American urban landscape over the years. Despite the negative connotations often attached to gentrification, it is recognized that the …show more content…

Abandonment happens when property owners operate on the assumption that long-term investment in a neighborhood is unwarranted (Freeman 251). They subsequently lose any incentive for continued ownership. In NYC, gentrification is a long-term process resulting from the economic changes in the city. The shift from the manufacturing sector to the service sector leads to a reduction in the absolute demand for labor. The reduction greatly affects the unskilled labor force that is rendered redundant and unable to pay rent. Similarly, the growth in professionalization creates additional demand for high-income housing. As a result, many blue-collar workers are displaced as professional and technical workers move into their …show more content…

There is stringent law enforcement in some neighborhoods especially in combating drug usage. Many foreign investors are seeking meaningful real estate income by buying property in the area due to the increase in interest rates (Freeman & Braconi 44). The technology revolution is gradually kicking out older and poorer workers out of the labor force. In addition, social stagnation evidenced across societies has capped the jar thus limiting living options for many people in the Bronx. The renewed interest in city life across the United States has put a great premium on urban neighborhoods. However, few urban areas have been built since World War II. When people flock to new in an environment where housing is scarce, gentrification takes

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