Generification

What is Generification?

A generification is a general term for the arrival of affluent people in the existing urban district. It relates to the increase in rents, property values and changes in the district character and culture. Often the term is used in the negative context suggesting the displacement of poor communities by the rich outsiders. The effects of the gentrification are complex, but the real impact may vary.

There are various aspects of the generification - investment in buildings, infrastructure and an increase in economic activity in the neighbourhood. Unfortunately, the alteration is often enjoyed disproportionately by the new arrivals at the time of established residents. Gentrification has caused a painful conflict in many countries often along racial and economic fault lines.

Things to Know in Generification

1. Demographics

An augmented median Income and decline in the proportion of racial minorities where the reduction of household size occurs and the low-income families are replaced by young singles and couples.

2. Land Use

There will be a decline in industrial use and an increase in the office or multimedia uses or the development of high-end housing or restaurants

3. Real Estate Markets

A hike in rent and home prices, an increase in the number of evictions, conversion of rental units to ownership and development of luxury housing.

4. Culture & Character

The arrival of new things is desirable and attractive including a standard for architecture landscaping, public behaviour and noise.