So we need to combat “gentrification”? Mayors should fight against this happening?
As I understand it, gentrification happens when private investors take the investment risk, of going into rundown areas, and revitalizing those areas. Slum areas have been revitalized through the process of gentrification. Small businesses find new business opportunities. Crime goes down, and homeowners move into these areas. All sorts of good things happen from gentrification. At risk of being politically incorrect, a better class of people move in. Arguably, these are new tax paying residents, who are now paying taxes in these cities.
Yes, some people are displaced through gentrification. But what is our alternative? Do big city mayors really want to make it so arduous for investors and developers, that these slums simply stay slums? And why would we want to do that? To make Spike Lee happy that we’re honoring the history of the ghetto and all that??? Really????
If you like your ghetto, you can keep your ghetto. Period.