Negative Impacts Of Gentrification On The Economy

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Negative Impacts of Gentrification Gentrification, upgrading of deteriorated urban communities by affluent people, is a hot topic, with a variety of different opinionated people. Some believe it is quite effective and helpful to society while others discard it as a disease that effects parts of society. There are many perspectives one can use to find positives and negatives in gentrification. Gentrification has an impact on the economy as well as the socio-cultural. Socio-culturally, it forces the lower class to move out due to the increased prices because of the higher purchasing power of the new settlers. In the article Rhetoric and Realities of Gentrification: Reply to Powell and Spencer by Peter Byrne, Byrne expresses “gentrification consists of rich people using their class and race-based power to expel poor people of color from authentic and supportive communities with the help of corrupt or befuddled city governments.” (491) However, viewing gentrification through an economical perspective helps its case. Gentrification improves the place by bringing in companies to create store in the gentrified community. Companies follow the people with buying power, therefore, as the people move so do the company stores. Gentrification is a double edged sword with more drawbacks than benefits and therefore should be ended. Higher income people come in and modify the houses which thereby increase the image of the community, allowing the land lord to further raise the price. This
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