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Words: | Submitted: Tue Oct 17 2006
... extremely visible process where the new people change the character of the existing community. There are many contributing factors that affect whether gentrification occurs in a specific location though it is very difficult to predict whether or when change will occur. On the supply side you need areas that are ripe for redevelopment in either having a large stock of dilapidated often architecturally interesting buildings or 'brown-field' sites of post-industrial land. The ability to make a capital profit seems to be a key factor. The factors affecting the demand side, the pool of those able to gentrify, are wide ranging and highly complex and not all are involved in a specific location. Primary the pool exists because of changing employment structures allowing people with high disposable incomes to take advantage of low land values comparable to other areas and to grow their personal wealth. But this is very simplistic and age, education, ...
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