Gentrification is a powerful force for economic change in our cities, but it is often accompanied by extreme and unnecessary cultural displacement. While gentrification increases the value of properties in areas that suffered from prolonged disinvestment, it also results in rising rents, home and property values. As these rising costs reduce the supply of affordable housing, existing residents, who are often black or Hispanic, are displaced. This prevents them from benefiting from the economic growth and greater availability of services that come with increased investment. Gentrification presents a challenge to communities that are trying to achieve economic revitalization without the disruption that comes with displacement.
Jason Richardson, Bruce Mitchell, and Juan France
NCRC
March 19, 2019
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