Gentrification: Good Or Bad?
"Obviously the urban fabric of Miami is changing. In spite of steep prices, more and more people are moving into condos and lofts being built throughout the city, especially in the downtown area. It's clear we're undergoing a gentrification process. Less clear is whether this is a good thing or a bad thing....
In truth the gentrifier is neither Duany's hero nor Smith's villain. I could see myself as one of them (between the first and second wave), trying to find a decent condo apartment with interesting architecture in the center city. And even if I accepted that gentrifiers are agents of change, the important question remains: Who has the real power? The answer to that, in my opinion, is indisputable: The true powers behind gentrification are the property owners, the developers, and the commercial lenders who finance them. That's the production side, not the consumption side.
And as for the initial question -- is the gentrification of Miami a good thing or a bad thing? -- I can answer that it is neither..."
Thanks to Abhijeet Chavan