Our Thoughts: Here's how gentrification really happens.
Alex: Gentrification means loss of culture and meaning. Gentrification isn't entirely because of the need to upzone neither is it entirely because of the demand from the people. Affordable housing isn't affordable at all but is a segway into a new anticipated higher market.
Chloe: Within the article it states that over 60,000 are homeless from displacement and stuttered businesses. A display of what happens with gentrification. Most can’t afford the price of rent for a business, let alone a place to live. Like stated, raising of rent rates make people most likely to fall behind on payments. The lack of the ability to pay makes some constantly move till they hit the lowest rates. It forces the need to create more low income housing to fight those falling off the edge of homelessness. Manhattan is a great display of vacancy with 44,000 second homes and a three percent vacancy rate. Along with that they have the most expensive rates for rent in the nation.
Xin Yi: Improvement has its underlying foundations in open strategy, as per Celia Weaver, research chief at the lobbyist bunch New York Communities for Change. "'Reasonable' really implies pay designated," Weaver clarifies, "since the worldview is blended pay advancements where most of the structure is excessively expensive to the local area and, truth be told, over the local's market rate, to make an arranged new market." Weaver refers to new improvements in East New York to act as an illustration of how even the arrangement of apparently "moderate" lodging can compound the dislodging of existing individuals in a space. This is how gentrification occurs.