American Business History
Gentrification is the process of urban transformation where wealthier individuals move into a previously lower-income neighborhood, leading to increased property values and changes in the community's character. This phenomenon often results in the displacement of long-time residents as housing becomes more expensive and local businesses shift to cater to a more affluent clientele. The impacts of gentrification can include both revitalization and economic strain on existing residents, raising questions about equity and access to urban spaces.
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