This is only talking about people who own their homes. A lot of gentrification is happening in areas where historically the residents were suppressed from owning real estate. My own knowledge is mostly around the Portland, Oregon area, but there is a documented history of minorities being unable to purchase property, get loans, and lots of other institutional things that stop people from actually owning the land.
For them, gentrification is definitely a bad thing.
he also found that a lot of renters actually stay — especially if new parks, safer streets and better schools are paired with a job opportunity right down the block.
That squares with the recent study[1] by the Federal Reserve Bank of Cleveland.
"We're finding that the financial health of original residents in gentrifying neighborhoods seems to be increasing, as compared to original residents in nongentrifying, low-priced neighborhoods," says Daniel Hartley, a research economist with the bank.
He looked at the credit scores of original residents and found that they went up — regardless of whether they rented or owned — compared with residents who stayed in nongentrifying neighborhoods.
If you read the above link [1], it's not survivor bias:
"Another way to cut the data is to compare movers and nonmovers across gentrifying and nongentrifying neighborhoods. Interestingly, there is a slightly larger increase in credit score (1.5 points more) associated with residents of the gentrifying neighborhoods who moved to a different neighborhood relative to those who lived in a gentrifying neighborhood but did not move. So it appears that, on average, movers are even slightly more positively affected by gentrification than nonmovers."
Fair enough. I just Ctrl-F'd 'bias' and had nothing, guess I could have been more thorough.
That paragraph still fails to specify whether this applies only to homeowners and renters, or whether that still holds when looking just at rentership. We have "original resident renters living in gentrifying neighborhood benefit", and we have "movers overall benefit", but that doesn't necessarily imply "original resident renters who (were forced to) move benefit."
For them, gentrification is definitely a bad thing.
Edit: Reference here on page 25: http://aaablogs.uoregon.edu/visualculturesymposium/files/201...