Thursday, April 24, 2014

Explaining Gentrification: Global Jobs Versus Local Jobs

Explaining ironic gentrification in Pittsburgh at Pacific Standard magazine.

Theme: Global talent migration.

Subject Article: "Pittsburgh renting rates rising quickly."

Other Links: 1. "The cost of blight: vacant and abandoned properties."
2. "Urban Decline in Rust-Belt Cities."
3. "Explaining Gentrification."
4. "Sky's the limit for Atlanta rents: Ponce City Market leases are just a sampling."
5. "University Circle aims to help small businesses rise with the neighborhood: gentrification 101."

Postscript: Lack of housing supply is not the only cause of gentrification. In this post, I show how global labor markets push up rents in shrinking cities where the housing supply is ample to meet demand. Yet gentrification still exists.In a forthcoming post, I explore the real estate bubble in Stockholm, Sweden as another possible cause of gentrification.

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