transnational gentrification


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transnational gentrification
Transnational gentrification happens when people from different countries move into a neighborhood and increase the cost of living, pushing out the current residents who can no longer afford to live there. This can happen when wealthier people from other countries buy property in a neighborhood, renovate it, and raise the rent or housing prices. For example, let’s say there is a neighborhood where many families live and have lived for a long time. Then, people from another country come in and buy up a lot of the houses, fix them up, and start renting them out for higher prices. This can make it harder for the original families to stay in the neighborhood because they can’t afford the higher rents or housing prices. One verifiable fact is that according to a study by the Urban Affairs Review, neighborhoods with high levels of transnational gentrification are more likely to experience displacement of long-term residents.