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Gentrification In New York City

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Gentrification is a major reason for the increase in rent prices throughout New York City. Harlem rent prices have gone up over the past years because of new condominiums and businesses that are being built in neighborhoods. The displacement of residents leads to an increase of people becoming homeless in the city. According to the author, Ivan Pereira, “Harlem saw a 9.4 % average rent price increase during that same period from $2,191 last year to $ 2,397 in January” (Pereira 1). The change causes longtime residents to move out because of a variety of factors including unaffordability, pressure from property owners, diminishing or lack of stores that cater to them and many more. The more condominiums and business’s being built makes living

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