2006-09-21 01:39:07 · 6 answers · asked by spongebob 1 in Business & Finance ➔ Renting & Real Estate
lol, well usually disintermediation does not occur when gentrification occurs since the affluent portion to the society rehabs a neglected neighborhood displacing the lower portion of the society.
2006-09-21 01:43:49 · answer #1 · answered by newmexicorealestateforms 6 · 0⤊ 0⤋
Think of it as "urban pioneering in a slum", and you won't be too far off....
The typical situation occurs when a city neighborhood is rundown-to-slummy (anywhere from seriously worn at the edges to Downtown Beirut style), BUT there are still advantages to the general area----maybe it's a minimal commute for city workers, or very close to cultural exhibits.
(In case that sounds weird, I know from experience that both Chicago and Washington, DC, have neighborhoods that can literally change their appearance--- from disaster area to respectable small townhouses---every few blocks.)
IF you've got some good planning (and plenty of financial backing, I presume), it's possible to get the land fairly cheaply, knock down the slums-in-progress, set up some hot new condos or comparable residences, and promote it (and your great new "gated community", plus all the safety features) to a fare-thee-well, hoping to attract reasonably prosperous renters or buyers who will move back IN (thus, the pioneer) and help restore property values.
2006-09-21 08:55:27 · answer #2 · answered by samiracat 5 · 0⤊ 0⤋
Basically, it's where the city takes a neighborhood that is usually low income and renovates it. Most of the time, the current residents are replaced with people who have more money. One example is when my hometown took an area that was still considered rural and they built it up with a mini-mall and new houses that cost so much the people who lived there before couldn't afford it. Typical city planners, let them find some beautiful land and by god they'll put a McDonalds there.
2006-09-21 08:49:40 · answer #3 · answered by Melanie 3 · 1⤊ 0⤋
All you'd ever want to know:
http://en.wikipedia.org/wiki/Gentrification
2006-09-21 09:37:09 · answer #4 · answered by Scoop 1 · 0⤊ 0⤋
the transformation that takes place when middle-class people move into a working-class area and impose their own tastes, usually banishing local character and making property unaffordable for locals
2006-09-21 09:01:57 · answer #5 · answered by shree 1 · 1⤊ 0⤋
learn to spell...and we all know that we get 10 points if you like our answer
2006-09-21 09:03:41 · answer #6 · answered by luvyduvy1184 2 · 0⤊ 0⤋