Gentrification May Actually Be Boon To Longtime Residents
J Thoendell stashed this in Music
"We're finding that the financial health of original residents in gentrifying neighborhoods seems to be increasing, as compared to original residents in nongentrifying, low-priced neighborhoods," says Daniel Hartley, a research economist with the bank.
He looked at the credit scores of original residents and found that they went up — regardless of whether they rented or owned — compared with residents who stayed in nongentrifying neighborhoods.
"There may be these kind of side benefits to gentrification that we've been less focused on, that can actually help the original residents of the neighborhood," he says.
Stashed in: Economics!
Original residents in gentrified neighborhoods are better off economically once those those neighborhoods are gentrified.
That is not what my intuition tells me.