what is gentrification 
gentrification is the transformation of a neighborhood from low value to high value it is viewed as a process of urban development in which a neighborhood or portion of a city develops rapidly in a short period of time often as a result of urban renewal programs including real estate investment this process is often marked by inflated home prices that bring in higher income residents and displace a neighborhood s previous residents understanding gentrificationgentrification is derived from the word gentry which historically referred to people of an elevated social status in the united kingdom the term landed gentry originally described landowners who could live off of the rental income from their properties in its current context gentrification was first popularized by the british sociologist ruth glass in 1964 when she used the term to describe the influx of middle class people into london s working class neighborhoods displacing the former residents of those localities 1numerous cities around the world experience the phenomenon of gentrification which can have a direct impact on housing market dynamics in most major cities some neighborhoods that were previously less than desirable have morphed into vibrant districts with plush condominiums and offices new coffee shops and restaurants expensive retail storefronts and various entertainment choices gentrification poses complex issuesgentrification is a complex social issue with both benefits and drawbacks young families welcome the opportunity to buy reasonably priced homes in a safe community with sound infrastructure and a wide choice of amenities and services local municipalities and governments also benefit from collecting higher taxes on rising property values and increased economic activity however the neighborhood s original inhabitants also families as well as singles of various ages are often displaced by rising rents and a higher cost of living from the very community that they helped build 