Gentrification

Gentrification is a slow methodical process of renovation and revival of deteriorated urban neighborhoods by means of influx of more affluent residents, which results in increased property values and the displacing of lower income families and small businesses.

As we began to chase the white upper middle class to the suburbs they began to strategize on what their next move was going to be.  The cost of living in the suburbs was becoming to expensive. Long drives to and from work along with long drives to shop. Multiple vehicles to purchase and insure, sometimes 3 or 4 vehicles for those with teenagers. While at the same time their property values were increasing and the inner city property values were decreasing. They have accumulated enough equity in their current homes to sell them and then purchase and fix up the large brick older homes in the inner city with no future mortgage payments. While other affluent whites that felt the suburbs were not conducive to their lifestyle began to purchase homes at low prices and fixing them up and over time watch there investment in the inner city grow. 

So before you decide to move to the suburbs and forcing yourself to go deeper into debt, just wait. Eventually in some inner city neighborhoods the property value will increase 3 times it’s current value.

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