But what does this mean?
Much has been written about gentrification, but simply put it is the name for the rise of property values (and then ipso facto rent prices), resulting in displacement and often cultural erasure of those who were displaced. As Stuart Hall said, “race is the modality in which class is lived” and so by this logic gentrification is also deeply racialized. But what is the cause of this rise is more contentious. Some point to art galleries/spaces; others to international & national real estate speculation looking for new markets to profit off of; some see it is as a natural process of re-vitalization of areas once thought of as blight (if life under Capital could be seen as natural); some see the incursion of the (white) hipster as the cause. Suffice to say the cause is complex and may include all of these.