TFG crew is together again, discussing artisanal coffee spots... Nah, we are talking about gentrification, the loss of the third place, and your current buying opportunity. Since change is a universal constant, why not get in on the front end and enjoy?
Can gentrification be a good thing? First, let's define it.
Gentrification is a housing, economic, and health issue that affects a community's history and culture and reduces social capital. It often shifts a neighborhood's characteristics (e.g., racial/ethnic composition and household income) by adding new stores and resources in previously run-down neighborhoods.
This structure allows the wealthy to put their children in their well-funded public schools while leaving low-income families and students concentrated on their own, usually under-resourced schools. Among a myriad of other issues which include displacement, cultural erasure, and a spike in the cost of living, especially for underserved communities.
Some of the benefits of gentrification include reduced crime rates, improved infrastructure and economic growth.