Whatzat mean? Word origins.

[cathexis]

Originally Posted by homoe

Gentrification............


Gentrification is a process of renovation of deteriorated urban neighborhoods by means of the influx of more affluent residents. This is a controversial topic in politics and in urban planning.

Let's tell folks what exactly gentrification means. Pls. correct me if I miss a point.

A venture capitalist, one who invests in the misfortunes of others, comes into a city, neighborhood, basically any area which has befallen economic hardship. Examples would include Gary/Hammond IN, parts of Pittsburgh and Akron and Cleveland. Detroit would fall in this category which these mega-rich investors come in, offering residents cents on the dollars to acquire these once proven profitable properties. The old neighborhoods were razed with new malls, apartment building which have rents unaffordable by residents, and other services and products out of the residents range.

These prior residents are displaced to more and more unsatisfactory housing. In addition, the items they were forced to leave behind, ancestral photographs, antiques, and glassware, sometimes worth hundreds of thousands dollars if they could have sold the items. They might not be stuck in this cycle of poverty.