61–62 of 62 posts
The pinnacle example of this imho is the 202 year old Parisien Au Richelieu Boulangerie (bakery) that closed it's doors recently in Paris due to rent increases because of it's proximity to the ever popular Louvre Museum. Even Paris is becoming too Parisienne for Paris! http://eater.com/archives/2013/01/02/the-oldest-bakery-in-pa...
And yet when this fancy boulangerie opened in a modest neighborhood in 1812, that was a textbook example of gentrification.
'"To my surprise," Freeman says, "it seemed to suggest that people in neighborhoods classified as gentrifying were moving less frequently."' Well, duh. With rents rising, your only chance to stay in the neighbourhood is to cling on to your existing contract. Look at a fully-gentrified neighbourhood; the only low-income residents will be those who have been living in the same home for decades, with a rental contract t…
A good possibility, but many cities don't have rent control and/or give landlords lots of leeway to raise rents. You'd have to break it down by city to see whether the effect was limited to cities with rent control.