Question

Do you think gentrification benefits the inner city poor

Answer 1

Gentrification - The process of renovating a degenerated urban locale by a course of the arrival of more wealthy people through the procedure of procuring properties. Gentrification is a contentious topic as it can ameliorate the standard of a vicinity but also possibly forces repositioning of present, established inhabitants and trades which causes them to relocate.

This process has both positive and negative effects.

Positive Effects: -

• In areas of low income, an enhancement to the local economy is provided, as the influx of the rich into that area which eventually leads to elevated earnings. This gives more money for community and business investment. Over a period, more businesses are built. More businesses are directly proportional to more jobs, which helps everyone in the community.
• More jobs mean there will be a definite decrease in crimes as well.
• More law enforcement, necessary and affordable, will be placed due to increase in taxes due to an increase in local fiscal revenue.

Negative

• Due to gentrification process, rental values surges and the original residents of that area have to relocate. As a result of displacement subordinate emotional effects may also arise
• Expatriated people may become vagrant
• Resentment and conflict might occur within the community between the original inhabitants and the gentrifiers.
• In these areas cheap housing becomes rare and ultimately imaginary.

As gentrification has become an extremely contentious issue in places where it has happened. While it is a blessing for some group of people like the real estate companies, the politicians whereas it is an anathema for the middle and poor class, after gentrification has to face higher cost of living, their social life and network breaks off and there are higher possibilities of them to leave the place and find somewhere else. Some ill effects of gentrification is the discriminatory behaviour by the people in power on the low-income individuals and sometimes also on people of colour.