Liberté. Égalité. Fraternité.
Usually I think it is a bad thing. But.... my neighborhood is being gentrified, thus raising the property value of my house. I love seeing all the expensive renovations going on around me. Fortuntaly, the neighborhood is mostly elderly, so nobody is being displaced.
Whatever the free market says (within the law).
So long as the government provides shelter to those that need it, rip the slums to bits and build whatever the market will bare.
Btw, in my opinion, there is a market for tiny (sub 300 sq. ft. for one person, for example), basic, clean, safe apartments with very simple fixtures and finishes. Apartments so small and cheap per square foot to construct and maintain (though functional) that building them and renting them out at a cheap price is economically profitable without government assistance.
I see that as a future area of development in America.
Last edited by DA60; 12-04-14 at 01:28 PM.
'What kind of sick and twisted toy factory is this?'
'We are all the sum of our tears. Too little and the ground is not fertile, and nothing can grow there. Too much, the best of us is washed away.'
"Better to be dead and cool, than alive and uncool."
"On balance I think that gentrification is a good thing"... but it also depends on who (perhaps plural) is behind the process.
The reason I say that and that way is gentrification once in process can cause a neighborhood to look more appealing and increase property values but there is a chance it will effect unemployment rate in a given area. Why those areas are targeted for this is obvious, usually going after the abandoned and boarded up properties where things look not kept, not cared for, and generally an attraction for crime. Another potential benefit, crime reduction in a given area. Usually one or more developments can turn a small urban area around in short order. This also works well turning existing zoned residential areas or business areas into mixed use communities. Think the San Francisco, Atlanta, and Miami model.
But there is a consequence, property values rising quickly in a given area could push out whomever is left living in the area prior to development. Property values equates to property taxes and not everyone in the area may be ready or capable of handling an increase in that tax liability. Thus it could create a domino effect of pushing out existing neighbors around the gentrification developments / re-developments. There is a reason that gentrification efforts tend to be linked to urban professional (or artist) white populations that end up pushing out minorities in favor of the finished product well out of the prior price range. That is not always the case but is a real risk when doing so in changing the mix in a given community. That has potential political ramifications as well. Who is behind the process could mean something to whom ends up having to leave over this.
So from my chair it all comes down to who is doing this. Private development for something like this usually has to go before zoning, so there is at least some notification of what is happening and why. A place for opposition to voice their concerns. Where I would draw a line is in private development appealing to government to "help" get existing residents out of the way. That would sound too close to government seizing property (or at least pressure and influence working against existing residents.) Assuming that is not the case then gentrification benefits tend to outweigh the consequences.
"Every time something really bad happens, people cry out for safety, and the government answers by taking rights away from good people." - Penn Jillette.
"A nation can survive its fools, and even the ambitious. But it cannot survive treason from within. An enemy at the gates is less formidable, for he is known and carries his banner openly. But the traitor moves amongst those within the gate freely, his sly whispers rustling through all the alleys, heard in the very halls of government itself. For the traitor appears not a traitor; he speaks in accents familiar to his victims, and he wears their face and their arguments, he appeals to the baseness that lies deep in the hearts of all men. He rots the soul of a nation, he works secretly and unknown in the night to undermine the pillars of the city, he infects the body politic so that it can no longer resist. A murder is less to fear"
Cicero Marcus Tullius
This poll needs a "there are pros and cons" option. That's my take.
Pros: Gentrification cleans up bad neighborhoods.
Cons: Everyone, including the poor, needs a bed to sleep on.
The truth is raw and crude always. Anytime it isn't, it isn't the truth. Anytime wealth is being created in a place where it usually isn't that's a good thing. Usually if it's making people angry then that's a direct sign of a good thing.