Large Scale Reverse Gentrification
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What is this lovely process called? GENTRIFICATION.
Gentrification, or urban gentrification, is a phenomenon in which low-cost, physically deteriorated neighborhoods undergo physical renovation and an increase in COSTS, along with an influx of WEALTHIER residents who by default, DISPLACE THE PRIOR RESIDENTS
Proponents of gentrification focus on the benefits of urban renewal, such as RENEWED INVESTMENT IN PHYSICALLY DETERIORATING LOCALES, improved access to lending capital for HIGH-INCOME MORTGAGE SEEKERS, as their property values increase, increased rates of lending to first-time home purchasers to invest in the now-appreciating area and improved physical conditions for renters. Often initiated by private capital, GENTRIFICATION HAS BEEN LINKED TO INCREASED PROPERTY VALUES, DECREASED TOLERANCE OF SEXUAL MINORITIES, and DECREASED community activism.
Critics of gentrification often cite the human cost to the neighborhood's lower-income residents when debating the topic. They expound that the increases in rent often spark the dispersal of communities whose members find that housing in the area affordable. Additionally, the increase in property taxes may sometimes force or give incentive for homeowners to sell their homes and seek refuge in less expensive neighborhoods.
Gentrification comes in one of two forms.
Form A (Existing developments Salvaged): Existing buildings (residential or commercial) are bought from owners for a high price, causing the new owners to raise rent prices for tenants and/or create trendy stores that are nothing but a nuisance to the general public.
Form B: Existing buildings are demolished and replaced with new developments, which are truly, truly un-attractive and unoriginal in design and structure for afformentioned reasons.
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This petition, will be submitted to said authorities in which gentrification is handled, and in time with hope, the process of REVERSE-GENTRIFICATION, can ensue.
We are highly hoping when this petition is submitted, we can get a helpful representation from you.
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