When a poor neighborhood attracts higher income residents, expensive cafes and pricy vintage clothing stores move in, making daily living more expensive. The narrative is that gentrification displaces low income residents and in the worst case scenario causes homelessness. Now, a new storyline is emerging that shows that it isn’t fair to blame gentrification for displacing low income residents and that there might actually even be some benefits. A study by the Philadelphia Federal Reserve…
How gentrification may benefit the poor
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