SOCIAL - POLITICAL COMMENTARY: Other America: Gentrification

Apt Williamsburg-Brooklyn, New York. Affordable housing is not affordable and gentrification has a role to play. One can argue the pros and cons of gentrification, but it is clear that part of the plan is that the rich get richer, often at the at the expense of the poor. Wealthy multinational investors, private equity companies, and real estate speculators promise shareholders large returns on their investment in order to fund gentrification. While investment banks profit from state and city-supported gentrification, the municipalities themselves also have the added incentive of higher revenue.
Gentrification

Apt Williamsburg-Brooklyn, New York. Affordable housing is not affordable and gentrification has a role to play. One can argue the pros and cons of gentrification, but it is clear that part of the plan is that the rich get richer, often at the at the expense of the poor. Wealthy multinational investors, private equity companies, and real estate speculators promise shareholders large returns on their investment in order to fund gentrification. While investment banks profit from state and city-supported gentrification, the municipalities themselves also have the added incentive of higher revenue.