Gentrification
What is gentrification?
The process in which wealthy individuals move into historically low-income neighborhoods
What is the primary way for low-income families to escape poverty and build wealth?
Homeownership
When investment firms buy all the houses, what are families forced to become instead of homeowners?
What is displacement?
This is the term for what happens when long-time residents are forced to pack up and leave because they are priced out of their neighborhood.
Property passed down from parents to children is known as what kind of wealth?
Generational wealth.
When low-income families are displaced and have nowhere to go, they are in danger of experiencing what?
Homelessness
Even if a low-income family owns their house, gentrification can still force them to move by raising these fees or taxes .
Property taxes.
What kind of communities do private equity buyers target?
low in-come communities with people of color, single mothers, and other marginalized groups
what must communities do to stop issues like gentrification from continuing?
Advocate
When can we practice self advocacy
Anytime
When a private equity firm buys an older apartment complex, what is usually the result for the people living there?
Eviction
Because private equity firms have millions in cash, they easily beat regular families in what kind of war?
Bidding war
Who gets pushed out when large investment firms go into a neighborhood with all-cash offers?
Low income or working class families
What is the term for the corporations that buy up houses to run them as businesses?
Private equity firms
What do you call the difference between what a house is worth and how much the owner still owes the bank?
Home equity