Gentrification was, still is, and most likely will be an ongoing occurrence. A neighborhood that is considered “bad” or “old” will most likely slowly start to be gentrified, or as the author of the “The Birth of Gentrification” states in other terms “neighborhood revitalization.” This process has occurred all over the US, including many neighborhoods in New York City. The example used in the text is a great example; Brownstoning was started because banks refused to finance mortgages from areas of the city that were “risky” and so newsletters were created, public meetings and events were held to encourage people to take up Brownstones. This entire process ultimately resulted in brownstones becoming one of the most expensive and elite homes in all of the city. This process of gentrification seems to be occurring in all of the neighborhoods we are studying this semester. Slowly, but surely, new and “hip” stores are being opened up to bring in a newer, middle class population. It would be very interesting to track neighborhoods over a long period of time to see how quickly gentrification occurs.

Question: Why is gentrification an ongoing cycle in global cities?