Definition
The process of neighborhood improvement and rising property values that often displaces lower-income residents. It's real estate appreciation celebrated by investors and mourned by longtime residents who can no longer afford to live there.
Example Usage
Gentrification transformed the historically working-class neighborhood into a trendy urban destination with dramatically higher housing costs.
Origin
From 'gentry' (landowners of high social status), describing when neighborhoods become 'nicer' for wealthier residents
Fun Fact
Gentrification is economically rational but socially controversial—property owners love it, community advocates fear its displacement effects.
Source: Urban Sociology and Real Estate Studies
Related Terms
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