gentrification

Definition

Gentrification is the process by which lower-income neighborhoods undergo renovation and revitalization, leading to increased property values and the displacement of the original residents. This often results in a shift in neighborhood character and demographics, favoring more affluent residents.

Analogy

Imagine gentrification as a vintage car restoration. A rusty, old car (the deteriorating neighborhood) is discovered and then polished, repaired, and upgraded with new parts (the renovation process), making it appealing to those who previously wouldn't have given it a second look. However, just like how the restored car becomes too expensive for its original owner to keep, the upgraded neighborhood attracts wealthier individuals who can afford higher rents or prices, pushing out long-time residents.

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