Effects Of Gentrification On The City And Its Economy

Gentrification in Chicago is kicking thousands of low income people out of their homes, but can it be a good thing? â€Å"Gentrification is the process of renewing and renovating urban, low-income neighborhoods, usually to help accommodate middle and upper class citizens causing an increase in property values. This often leads to many lower class residents abandoning the community and the foot print they may have left there. The nice part of this act is that it can put a good impact on the city and its economy. But who is this affected the most and how can we help? I know that this act can hurt a lot of people, but I do believe it has more positive effects than negative. Low income people suffer a lot when it comes down to gentrification. Many people can be forced to move out of their homes if they are not financially stable enough to afford the drastic increase in property taxes and rent that are placed upon them. Some of these low-income residents have lived in these houses for ge neration, all for it to be swept from under their feet, for a new urban development plan. These people are forced to move to a new neighborhood which could be worse than the one that they previous left. Some also have to find new jobs now seeing travel may be more of a hassle, whether it has to do with more gas or a further distance to travel. Even children can be impacted by this, due to them moving to another school district that may not be as great as there former learning institute.Show MoreRelatedEffects Of Gentrification On Urban Areas1598 Words   |  7 Pages Issue Paper #1 The Effect of Gentrification on Urban Areas Neiel Edmonds October 6, 2015 American Government University of the District of Columbia Neiel Edmonds October 6, 2015 American Government Dr. Hunt Gentrification: Urban Areas All over the globe today, urban areas are vulnerable to the growing impact of gentrification. Reason being is because, as the cost of living rises in many urban areas unlike never before, then those urban areas are needed to be diversifiedRead MoreThe Pros And Cons Of Expectable Housing In Highland Park943 Words   |  4 PagesPark will continue to increase, which may be due to current economy or the rate of inflation. In Highland Park, alterations are being executed to its neighborhood’s character due to its gentrification. For this reason, the neighborhood’s environment has varied over the years due to it immense amount of new businesses and new apartment complexes, which had happened in the small town. According to Robert Garcia and Tim Mok, â€Å"Gentrification and displacement often shift a neighborhood’s characteristics---Read MoreGentrification And Its Effects On Society872 Words   |  4 PagesAlthough gentrification makes an unsecured and, poor neighborhood improved,it also makes people that lived there have psychological problems and it affects there lives in a negative and positive way. Gentrification improves neighborhood because they renew the old buildings , build more stores , more security comes ,and that s what makes gentrification positive in society. Negative things about this is that make people displace and it interfered with society culture. Personally g entrification is negativeRead MoreGentrification Of Gentrification And Labor Markets1397 Words   |  6 PagesIntroduction The study of urban spaces, especially with respect to gentrification, has increased dramatically in significance and relevance in the past several decades. 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Did you know â€Å"Of the city s 55 neighborhoods, the report classifies 15 as gentrifying and analyzes how their housing and population have changed over the past two decades.† (Report Analyzes New York City’s Gentrifying Neighborhoods and Finds Dramatic Demographic Shifts. Furman Center for Real Estate and Urban Policy. N.p., n.d. Web. 31 May 2017.). That is roughly a fifth of NYC’s neighborhood, which is a lot of people! Gentrification is the processRead MoreUrban Decline With Middle Class1445 Words   |  6 Pages(1986) expressed the beginning notion of gentrification that indicated the urban decline with middle class individuals abruptly and surprisingly moving into neighborhood where crime rates were tremendously high. In the study, time- arrangement information from fourteen gentrified neighborhoods in Boston, New York, San Francisco, Seattle, and Washington, D.C., were broke down to figure out whether gentrification had an impact on wrongdoing rates in focal city neighborhoods. The areas took after each