Critical Analysis
What are the causes of gentrification in Harlem & Brooklyn?
Gentrification results from the flow of people and capital.
Different neighborhood contexts determine the extent to which gentrification is linked to racial transition.
Although neighborhoods change slowly, overtime they are becoming more segregated by income as a result of macro-level increases in income inequality.
There are many theories around the causes of gentrification. Some analysts believe …show more content…
The growing gap between potential profit from development in an area and the current profits from land in a dejected neighborhood cause the flow of capital into the neighborhood in the form of higher-priced and new housing and trade.
Additionally, racist bank-imposed economic policies that target minorities by denying home mortgages and theorizing that the high crime and low housing prices and rent as a result of disinvestment will lead to other investors being attracted to the neighborhoods.
What are the impacts of gentrification in Harlem & Brooklyn?
Displacement happens when “any household is forced to move from its residence by conditions which affect the dwelling or immediate surroundings”
Displacement may result from either investment or disinvestment in an area and comes in many forms: direct and indirect; physical or economic and exclusionary.
Displacement is becoming a bigger issue in knowledge hubs and superstar cities, where more people strive for urban living. Harlem and Brooklyn attract new businesses, highly skilled workers, major developers, and large corporations. These drive up the demand for and cost of housing. Previous local residents cannot keep up with the rising cost of living and are therefore forced to …show more content…
In Harlem and Brooklyn it is important to take note of the rapid transformation of these areas between 2000 and 2014. While to many, gentrification is a form of development that needs to be corrected so as not to totally displace previous residents of an area, to some it is necessary for the growth of the economy. These views of gentrification parallel a social and financial standing of the topic. Moving forward, the established families and culture in Harlem and Brooklyn should be taken into consideration in terms of increasing rent prices and affordability for those that are have lived in the neighborhood for a long