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Summary gentrification and the neighbourhood
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the effects of gentrification on the society and incumbent resident
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ONOIGBORIA SHALOM P2755951When putting GENTRIFICATION in context it is very important to study changes in
neighbourhood characteristics over time to understand the effects of gentrification
(Brummet and Reed.,2019)
According to (Brummet and Reed.,2019) Gentrification also
increases the average original resident homeowner’s house value,
an important component of household wealth which in turn
increases the rent of houses for residents.
According to (Chetty and Hendren.,2018) gentrification decreases the exposure
original resident children to neighbourhood poverty and increases their exposure to
neighbourhood education and employment levels. Only few of the incumbent
children benefit from this
Gentrification reduces the crime rate of a community. According to a study (MIT
Sloan School of Management.,2017) on Cambridge in the USA (1995), gentrification
reduced the crime rate in the city because the new resident was able to instal security
devices which made it more difficult for crime to be perpetrated. But the use of this
devices makes the security officials dispensable and leads to unemployment of these
officials.
Gentrification attracts commercial investors to the society by introducing new
varieties of commodities. However, gentrification can also sabotage neighbourhood
identities that are driven by commerce and introduce new services and goods that
don't benefit locals (Meltzer, 2016).
The process of gentrification can undo years of urban decay and potentially offer
significant advantages to cities, such as a larger tax revenue, greater socioeconomic
diversity, and better amenities (Diamond., 2016). The displacement of long-time
residents, which deprives them of the benefits mentioned earlier and puts them in a
disadvantaged position.
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