America’s inner cities are awash in acres upon acres of blighted, if affordable, housing. The solution? Gentrification.
In some cities, young professionals are discovering that gentrification has created an upscale inner city affordable housing crisis. And They have become the victims. The trend is not no longer confined to a few coastal cities. In cities across the continent, inner city gentrified housing is climbing out of a comfortable price range.
Philadelphia City Council, which once presided over some of the nation’s greatest urban housing bargains, is now wrestling with requirements to build a percentage of affordable housing in its urban renewal schemes. Mind you, the term ‘affordable’ is expanding provide support that no longer targets the poor alone, but also those young professionals with more dollars to spend, but still no housing to buy that they can afford. Read more at foxbusiness.com: You Got Priced Out of … Philadelphia? The Spread of Hot Housing Markets
As for the great unwashed masses driven out of all that urban blight by gentrification, what’s on the table to help with their pressing housing needs? Here’s one answer from the New York Times: The Towers Came Down, and With Them the Promise of Public Housing
