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Where do I stand on Gentrification?AP HUG

+Gentrification… What is it?

Gentrification is the process of renewal and reinvestment of capital into inner-city areas.

In economic terms, it means the value and cost of neighborhood housing and property is higher.

Gentrification accompanies the influx of middle-class or affluent people into deteriorating areas that often displaces poorer residents.

+The “Monopoly” Analogy

One way to think about gentrification is to play the game of Monopoly.

In the game, the goal is to be the wealthiest player through buying, renting, and selling property.

In every game there are winners and losers, just like real life!

While homeowners want the value of their home to increase, when this happens, so does the property tax.

So, when gentrification drives up property values, some people (usually those on fixed incomes, or with low paying jobs) can’t afford their homes anymore.

+Is it good or bad? Some consider it a positive

sign of reinvestment in a neighborhood

Yay!!! A new Starbucks on the corner!

Others resent the changes in population and character.

The local mom and pop coffee shop lost business after they put a new Starbucks on the corner.

+Photos of gentrification

New York: http://twentytwowords.com/photos-new-york-city-storefronts-taken-10-years-apart-show-gentrification-decay-36-pictures/

What it’s like to get kicked out of your neighborhood:https://www.youtube.com/watch?v=tYNuR1oaQts (6 min)

+Why does Gentrification Happen?

Government wants it to because it generates taxes through rise in property values

Younger professionals and sometimes retirees want to live close to the urban core, where jobs, transportation, and entertainment are.

We are a society of change- we don’t stay put for long like other culture do. (avg American moves 4 times in lifetime)

+What factors contribute to a neighborhood’s gentrification?

Access to urban centers view proximity to transportation networks

Low housing costs

Interesting architecture and building detail

Large numbers of rental units

+How can you measure gentrification?

Look at property value and tax rate changes between each census

Review turnover rates in rental units Income level of residents (new and long-term) Ethnic and racial mix of residents (new and long-term, stable

or not) The kinds of business that move into or out of the

neighborhood The kinds of work that exist in the neighborhood (factory jobs

versus service jobs) the kinds of cars parked on the street The kinds of community organizations in the neigh

Predict: what are some advantages?

+What are some of the advantages of Gentrification?

Housing values increase for homeowners Increase tax revenues for city services Reinvestment is made in infrastructure, roads, water mains, local

schools Business expansion Renovation and upgrading of existing homes Development of job opportunities

Predict: what are some disadvantages?

+What are some of the disadvantages of Gentrification?

Higher income investors displace lower income residents

Disrupts community institutions rooted in neighborhoods

Forces some people to move away from community

Can increase racial and economic conflict (often times it’s minority groups being displaced)

Based on the information so far, do you believe gentrification is positive or negative?

+Gentrification in Comedy and Film

SNL Skit: https://www.youtube.com/watch?v=wAsBta25OGQ (4 min)

Boyz N the Hood: https://www.youtube.com/watch?v=BadSZDpvq-s (4 min)