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Gentrification and its Effects
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Flashcards
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Housing Market Dynamics
The housing stock shifts towards more expensive options, pricing out lower-income residents and altering the demographic composition of the neighborhood.
Real Estate Development
Increase in property development and renovation projects geared towards attracting higher-income buyers, often at the expense of affordable housing.
Economic Change
Shift in the economic structure of an area, attracting new businesses, higher-income residents, and shifting the local economy from low to high-end services and amenities.
Social Stratification
Increased divide between different social classes within a neighborhood due to the influx of wealthier individuals and the marginalization of existing, often poorer, residents.
Mobility and Connectivity
Enhancements to transportation and connectivity that predominantly serve the needs of more affluent newcomers, sometimes to the detriment of the original community's mobility.
Gentrification-Induced Segregation
Spatial and social separation of different economic groups within a gentrifying area, often leading to pockets of wealth amidst persistent poverty.
Shift in Political Power
As wealthier individuals move into an area, they can bring different political preferences and influence, altering local governance and policy priorities.
Environmental Gentrification
Introduction of green spaces and environmental improvements to an area, which increases property values and can inadvertently displace lower-income residents.
Cultural Shift
Alteration of the neighborhood's character and norms as new residents move in, often leading to a decline in traditional community practices and local culture.
Commercialization
Transformation of local businesses to cater to the tastes and demands of wealthier residents, often resulting in a homogenized retail landscape.
Public Space Redefinition
Adjustment of public spaces to appeal to new residents and tourists, which can limit their accessibility and utility for the existing local community.
Displacement
Forced movement of residents due to rising rents and property values, often resulting in the loss of affordable housing and community fragmentation.
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