Where do we stand on the now-familiar and paradoxical narrative surrounding gentrification? While high end development booms have pushed out locals and increased prices in neighborhoods like Pilsen, Brooklyn, and London’s Elephant and Castle, gentrification also provides new economic opportunities. And despite many pointing the finger at young creatives and professionals as drivers of gentrification—introducing a tsunami of overpriced coffee shops, condos, and corporate chains—new trends indicate that they are also being priced out. What are the long-term effects of gentrification on communities, and is urban revitalization possible without it? Are young people causing gentrification, or have they also been disproportionately affected by an unaffordable housing market, growing rent rates, and overpriced grocery stores?
Background reading and multimedia:
- Peak Millennial? Cities Can’t Assume a Continued Boost From the Young
Conor Dougherty, The New York Times, January 23 2017
- Is Gentrification Really a Problem?
Kelefa Sanneh, The New Yorker, July 11 & 18, 2016 Issue
- The Steady Destruction of America’s Cities
Gillian B. White, The Atlantic, March 9, 2018