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Old Posted Oct 18, 2020, 3:12 AM
jd3189 jd3189 is offline
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Examples of "auto-gentrification"?

Been wondering about this recently. Gentrification is controversial in terms of existing residents losing out to higher income professionals in favorable neighborhoods. It's unfortunate, but as long as the existing residents are only renting property, they will be more subject to market conditions. Leaving the neighborhood, becoming homeless, and fighting against gentrification has been some of the choices made in responses to being priced out and replaced by those who can afford the higher costs of living in a certain place.

However, has there been cases where residents in a neighborhood actually chosen to invest in the property they were renting in order to maintain their presence in the neighborhood and reap the benefits of the higher land value?

I'm guessing certain ethnic neighborhoods have done this. I'm curious about specifically black or Latino neighborhoods that have done this, but other neighborhoods can be mentioned. Seems like it would be a win-win. The neighborhood would get better and more valuable while still maintaining a part of it's identity.
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Old Posted Oct 18, 2020, 3:33 AM
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ardecila ardecila is offline
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There are certainly "well-kept" minority neighborhoods with high homeownership rates, but structural forces in the real estate market have always prevented the homeowners in these areas from seeing any real increase in property values.

Sometimes the stigma breaks and speculation happens from outside investors resulting in increased property values, but it's usually seen as a burden since it eventually results in higher property taxes. The tax burden can cause displacement even among homeowners. However, depending on timing, some of these homeowners do quite well for themselves... they can cash out and buy a bigger, nicer house - usually in a far-flung suburb with low taxes. I know of several Mexican families who moved from poor Chicago neighborhoods to huge new McMansions out in exurban Plainfield, IL.

This is not to erase the poorer members of the gentrified community, especially renters, who are often kicked out and forced to find new housing somewhere else. If they can find new housing, they lose out on the social connections and advantages of living in a stable community with people of a similar culture.

There is another phenomenon, which occurs on a smaller scale... sometimes the sons and daughters of a low-income neighborhood will return after getting a college education and a good job, raising income levels without changing the racial makeup. Latino activists call this "gente-fication". It has happened in Black communities as well. It's a smaller phenomenon because most educated people prefer to live in wealthier, traditionally whiter neighborhoods where the best amenities are.
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Last edited by ardecila; Oct 18, 2020 at 3:43 AM.
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