GEOG 457 Lecture Notes - Lecture 3: High-Net-Worth Individual, Greg Palast, Group Cohesiveness
Document Summary
Cannot understand housing markets without understanding labour markets: labour markets can ben affected by housing markets. Gentrification begins with lower-middle class: lack of economic capital, create a sense of place, but not necessarily have economic capacity to adapt to changing popularity of a neighborhood. Market for 2-3 bedroom condos, that people can afford as they sell a single-dwelling unit. Replacement/displacement theory: replacement: people are in a voluntary position (cid:862)o(cid:448)e(cid:396)all t(cid:396)e(cid:374)d is o(cid:374)e of p(cid:396)ofessio(cid:374)alizatio(cid:374)(cid:863) (cid:374)ot p(cid:396)oleta(cid:396)ia(cid:374)is(cid:373) o(cid:396) pola(cid:396)izatio(cid:374, employment trends are moving into the quaternary market. Represent population that needs a different approach to gentrification. Local housing market intersecting with a local labour market: hnwi: part of a global market. Neigh(cid:271)ou(cid:396)hoods that e(cid:373)e(cid:396)ge that(cid:859)s high p(cid:396)i(cid:272)ed a(cid:373)e(cid:374)ities a(cid:396)e available. Income of top 1% in us increased 224% in real dollars(1979-2007) While incomes for bottom 90% rose 5% over the period, but actually declined after 2000.
