Gentrification has eradicated culture in many renown cities such as los angeles, chicago and san francisco, This gentrification, that has priced many working class out of cities, gave birth to the anti-gentrification movement. A movement that organizes civil disobedience to decry the lack of affordable housing, mass transit rights as well as public spaces. This movement, however, has become xenophobic, ignorantly scapegoating the white community for gentrification, while ignoring the fact that many poor , working class whites are also being priced out of the cities.
Studies show that gentrification leads to new job opportunities, and credit scores for poor residents improve. Crime rates also drop. Longtime residents benefit from increases in their property values.
Studies also show that gentrification does not lead to widespread displacement.
The problem with gentrification is psychological, it is caused by misinformation from well-intentioned, but misinformed activists who are agitating against gentrification.
There is one drawback, even though area residents do not have a higher rate of moving out when they do it's usually to a poorer neighborhood. This could be mitigated. Governments could offer tax credits to long-time residents living in neighborhoods identified as "gentrifying" to offset increases in property taxes, rent, or general cost of living. This would also help take the air out of the anti-gentrification movement, since people would be excited to get tax credits when their neighborhood gentrifies. In fact this could lead to poor neighborhoods competing to be more attractive, leading to people taking more pride in their neighborhoods even in the poorest ones. This would help lead to improvements in opportunities and general quality of life everywhere.