Boy was I shocked to find my city on the list of Top 10 U.S. cities that are gentrifying the fastest. According to experts, gentrification happens when three things occur simultaneously:
- Long time residents of an area are displaced/removed,
- Physical appearance of the neighborhood & properties improves/change drastically
- Change in the character of a neighborhood.
Many of the rehabbers in my area, around 5-7 years ago, bought up many “cheap run down” or “tax foreclosed” properties on one side of my town that was traditionally dominated by a certain ethnic group. A booming job market and overall growth of the city created some unique conditions. It came to be that many long time residents could no longer afford to live in the area (pay the taxes) or where made such great offers on their property that they choose to sell.
Fast forward 7 years later, the neighborhood no longer looks the same, the shops are different, local bars & restaurants provide a social scene, even the traffic patterns have been changed and many improvements have been made to beautify surrounding areas. For my city i – n one particular neighborhood – Fix & Flip Investing has been a great thing for this community and on the positive side of gentrification.
Check out the infographic below to learn more about the top 10 U.S. cities that are gentrifying the fastest.
Click to Enlarge Image
Fix & Flip Investing can be yield some overall great results in improving neighborhoods and offering upgraded housing options that otherwise would not be attainable to first time home buyers or people unwilling to take on the challenge of remodeling a home.
Wishing you guys deals – deals – and more deals!