Gentrification the process of renewal and rebuilding accompanying the influx of middle-class or affluent people into deteriorating areas that often displaces poorer residents.
Displaces people from their jobs and homes Displaces people from their jobs and homes Gentrification Factories are sometimes turned into luxury condos. Factories are sometimes turned into luxury condos. According to 2003 American Housing Survey: 225,000 renters with incomes below the poverty line moved. According to 2003 American Housing Survey: 225,000 renters with incomes below the poverty line moved. They cited cost pressures among their reasons. They cited cost pressures among their reasons.
96,000 were displaced either by a private landlord or government actions. 96,000 were displaced either by a private landlord or government actions. Gentrification Gentrification is hard to gauge, in some neighborhoods it has been occurring for 30 or 40 years. Gentrification is hard to gauge, in some neighborhoods it has been occurring for 30 or 40 years. Gentrification is NYC since the 1990s has transformed the city. Gentrification is NYC since the 1990s has transformed the city. Low mortgage interest rates and demand created skyrocketing rents and condominium conversions. Low mortgage interest rates and demand created skyrocketing rents and condominium conversions.
Gentrification Harlem, which was low-cost renter housing, is now home ownership and high cost apartments. Harlem, which was low-cost renter housing, is now home ownership and high cost apartments. The average rent in these buildings is now $1,700 The average rent in these buildings is now $1,700
Solutions Rent regulation is the most frequently cited form of support. Rent regulation is the most frequently cited form of support. Other programs include: Other programs include: Public Housing Public Housing Housing Vouchers Housing Vouchers Exemption from rent increases to senior citizens. Exemption from rent increases to senior citizens. Project based Section 8. Project based Section 8.