Gentrification is such a tough topic to address. I myself am of 2 minds on it. I understand that wealthier residents can drive up rents and land taxes on current poorer residents. This can force out renters or even long time homeowners.
Gentrification is such a tough topic to address. I myself am of 2 minds on it. I understand that wealthier residents can drive up rents and land taxes on current poorer residents. This can force out renters or even long time homeowners.
At the same time you can't simply allow a neighborhood to continue to decay. Services need to be provided, infrastructure needs to be maintained and upgraded, and new residents need to be attracted to make a better standard of living. There's a balance to maintain there.
This is a great argument in favour of broad upzoning of a whole neighbourhood: no huge cost increases due to a focus of density, owners have the option to intensify their lots as they choose: maybe sell to a developer, maybe turn their detached into a 6-plex for income The result is organic growth