Gentrification of New York Neighborhoods
What does gentrification mean for New York renters and low-income communities? The answer is indefinite as the term “Gentrification” may mean different things to different people and can be misinterpreted. Ingrid Ellen defined it as the increase in rents and house values prompted by an arrival of more affluent residents into low-income neighborhoods. Consequently, the process causes difficulties for lower-income homeowners and renters to remain in their neighborhoods.