Did you say, gentrification?
What does gentrification mean? It is the process whereby the character of a poor urban area is changed by wealthier people moving in, improving housing, and attracting new businesses, typically displacing current inhabitants in the process.
Say What?!
Gentrification is a fancy word that means, forcing people out of their homes in one area and replacing that housing with more expensive ones Usually, the people being forced out cannot afford to live in the newly built homes. They are faced with difficult decisions of where to live. Some of them have no family nearby that they can rely on for support. Sadly, the families may have to move into a local hotel or shelter. Homelessness is the result for some of the people being forced out.
Gentrification is not an ugly word for the investors and builders who are buying these properties. They have nothing to lose, right? They have the financial resources to make their dream a reality. Most don’t think about or care what happens to the people who have been displaced. It’s about the mighty dollar.
While it is true that some areas need a face-lift or need to be revitalized. It seems like there is a better way to make the transition a little easier for those having to move. In many cases, tenants are not given a lot of time to get themselves situated before being asked to leave.
Suggestions
- Provide the residents with resources for alternate living options and/or programs to help with affordable housing. Not having internet or even a phone to make calls or search online for another place to live makes it hard for some residents.
- Help in a monetary way. Give each household some kind of voucher to use toward a deposit on another home.
- To help offset the cost of moving, offer a week or so, at a minimal fee or no charge at a local hotel.
- Offer storage space at a discounted price, until residents have a chance to secure new housing.
Closing
According to a 2019 National Community Reinvestment Coalition report, the top 5 cities affected between the years 2000-2013 were Washington, D.C., San Diego, California, NYC, New York, Albuquerque, New Mexico and Atlanta, Georgia. The percentages of places being gentrified ranged from 22-40%
As you can see this is happening all over the U.S. East coast, West coast and neighborhoods in between. Puerto Rico, a U.S. territory, is also seeing this trend. With the benefit of tax breaks for investors, it makes for a very easy and appealing business decision.
Did you say, gentrification? What do you make of this situation?