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Gentrification Pros And Cons

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This paper will discuss the social and political controversy of gentrification and its impact on low income neighborhoods. The term “gentrification” will be defined using scholarly resources. Research will also be conducted to determine whether gentrification has a negative or positive impact on low income neighborhoods. The goal of the paper will be to answer the following question: “How does gentrification of urban neighborhoods impact its residents?” This paper will uncover the many aspects of gentrification and provide clarity as to whether it can be seen as neighborhood revitalization or a strategic business move. Theoretical frameworks from proponents and opponents of gentrification will be highlighted to provide more information for …show more content…

Some may say that the process is merely a neighborhood revitalization project that will ultimately bring economic success to local communities. Others argue that the process is an opportunity for businesses to take advantage of low real estate costs for profit. There are many layers to the process of gentrification as it has both a social and political influence that involves many stakeholders. The term is defined as “residential change that brings new residents who are disproportionately young, well educated, salaried, and professional into urban neighborhoods where poor people live” (Glass, 1964, Levison, 2004, p. 175). Gentrification is derived from “gentry” referring to the middle and upper class households that are perceived to relocate local working-class groups for their economic gain (Nesbitt, …show more content…

It is worth noting the difference between gentrification and “incumbent upgrading” in which current residents improve the neighborhood’s housing value with no apparent population change (McDonald, 1986). Furthermore, McDonald stated that the mere increase in value of real estate in a neighborhood does not qualify as gentrification. This is due to the fact that the increase in value can be the result of inflation in the housing market on a national scale. There are many theories of the causes of gentrification. Some believe that the younger or wealthier people move to urban neighborhoods as a way to reconnect with the community while gaining more cultural awareness. There is also the theory of the real estate having a low price tag. The low cost of land attracts buyers who are interested in renovating the business for a large financial

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