gentrification

Isaac Kremer/ May 10, 2019/ / 0 comments

Migration of middle classes into former working-class areas, with a resulting change of character, e.g. modernization/repair of old property. May be used to describe what happens when new residents purchase and renovate older, inner-city housing in an otherwise distressed area often causing the displacement of lower income residents as real estate values rise; lower income residents may be impacted by higher rent or property taxes as a result of higher land values (Kremer, 2025)