From: Next City
A new study from the Federal Reserve Bank of Philadelphia — the first longitudinal study to look at gentrification’s long-term effects — suggests that displacement due to gentrification is less widespread than is typically understood. It also suggests that people who are displaced by gentrification are not materially worse off after they move, and that many people who remain in gentrifying neighborhoods see some benefits as neighborhood poverty rates decrease. The data compiled by the authors presents a new opportunity to understand how gentrification works, but some advocates suggest their conclusions shouldn’t be taken at face value.
“There’s two sides to this gentrification story,” says Davin Reed, a community development economic advisor at the Philadelphia Fed, and coauthor of the study. “I think a lot of the previous research focuses on one side, which is the challenges, and we don’t want to downplay those at all.”
Prior to the current era of gentrification, before the turn of the century, many cities and neighborhoods were facing a host of problems related to the opposite process — a net loss of people and jobs due partly to deindustrialization and white flight.