Quote:
Originally Posted by IrishIllini
Chicago is a huge city with tons of land for new housing.
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This is the key fact when debating gentrification in Chicago. The fact is, for every Pilsen or Logan Square, this city has a few neighborhoods on the South or West Side whose properties' market values have plummeted in the last ten years. The people who live in these homes, much like people all over the country, have most of their wealth locked up in their property.
Would you rather have to cash out of a neighborhood and move on, or be stuck living in a neighborhood with little opportunity because your mortgage is underwater? Hopefully anyone who is displaced can infuse these troubled areas with more investment and population.
Also, I feel the gentrification debate has been framed primarily by coastal journalists in cities without this problem. The gentrification protestors often aren't the poor, they're the first wave gentrifiers incredulous at signs of the second wave gentrifiers. The guy leading the 'anti-gentrification' protests in Logan Square is a professor at Loyola who moved back here from New York a few years ago.
-Sent from my $1300 3 bedroom apartment in Logan Square