Urban Economics: Li & Fung Case Study, Gentrification and Uneven Development

             The following pages will focus on expressing a critique opinion regarding the phenomenon of gentrification and uneven development, one of its repercussions. To begin with, one should clearly define gentrification, as it is generally defined, since several definitions can be found, expressing different characteristics of the term.
             Generally, gentrification, also referred to as urban gentrification, is a part of the urban housing cycle where significant investments are made in order to perform physical renovation on physically deteriorated neighborhoods, leading to increased property market values (Wikipedia, 2008). The first immediate effect of gentrification is the fact that these neighborhoods' initial residents, characterized by low incomes, can no longer afford these properties.
             However, there is a variety of different acceptances of gentrification. Many people consider gentrification to be a redevelopment, a revitalization, or a renaissance process. In his paper, Neil Smith feels obliged to make a clear distinction between the gentrification process and redevelopment. In his opinion, gentrification basically consists in a rehabilitation process performed by middle class home buyers, landlords, and professional developers on working class residential neighborhoods. Also in Smith's opinion, redevelopment consists in constructing new buildings on previously developed land, and not the rehabilitation of old structures. Following the same idea, the revitalization term suggests that these neighborhoods are in a state of somewhat de-vitalization.
             In certain cases, it seems that this de-vitalization is the result of gentrification, as Neil Smith argues. This happens by replacing open doors, street games, and stoop-sitting with iron bars, guard dogs, high wooden fences and other elements.
             Another factor of dispute regarding the matter of gentrification is whether this process is a short term, medium term, or long term ...

More Essays:

APA     MLA     Chicago
Urban Economics: Li & Fung Case Study, Gentrification and Uneven Development . (1969, December 31). In MegaEssays.com. Retrieved 22:24, April 19, 2024, from https://www.megaessays.com/viewpaper/203255.html