Yuppie scum save the hood

Big shocker: gentrification is good for communites. So says ABC News’ Oliver Libaw. And poor people are, according to a new study, less likely to move away from gentrifying neighborhoods than other kinds of neighborhoods.

What is worse? Being forced out of an up-and-coming neighborhood by increasing housing costs, or being forced out by rising crime rates? Why, after all, do neighborhoods gentrify? Developers see a market for higher-priced housing in a neighborhood, of course, but that market only exists potentially because it’s being underserved elsewhere in the city. That means the city is growing richer on average — that’s not a bad thing. What can get in the way are government regulations making development harder or installing rent controls.

Anyhow, more and more urban poor are able to afford housing in edge cities and exurbs. It’s a good story. Check it out.