What Are The Pros And Cons Of Gentrification
I vote No on Proposition 555 for a few reasons. 1) The statement,”through the conversion of old housing stock to high-rent loft space”, provides no accommodation to the current low-income residents. Those people will inevitably have to relocate. There is no promise that those displaced will …show more content…
And those low-income residents who try to stay in gentrifying neighborhoods struggle financially to pay rent, as well as other basic necessities, like food and clothing. As a result, they face a greater danger of being evicted.
However, researchers Lance Freeman, a professor of urban planning at Columbia University, and Jacob Vigdor, an economist at Duke University, have found evidence suggesting otherwise. Tenants aren’t necessarily being pushed out of their homes because of gentrification. In fact, “...studies suggest that in any five-year period, populations change on their own, that almost half of the tenants in [a] given neighborhood will move on their own—regardless of what economic factors are affecting the community at the time”(Cravatts).
Frank Braconi, an advocate of urban renewal, echoes his sentiments in his research project of New York Gentrification, “Low-income households actually seem less likely to move from gentrifying neighborhoods than from other