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Old Posted Mar 4, 2015, 3:15 PM
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HomrQT HomrQT is offline
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Join Date: Dec 2009
Location: Hinsdale / Uptown, Chicago
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How does housing stock improve in an established neighborhood?

Hi guys, something I've been pondering, it's easier to understand how a neighborhood would gentrify if it were in ghetto conditions, where buildings would be torn down for new houses to be put up. But how does a middle class neighborhood with no dilapidated properties improve their building stock? Are modifications just made to the existing homes or are there common examples where affluent people move in and tear down decent homes to make even nicer ones? What encourages people to move into a middle class neighborhood and start pushing it to become more affluent? I imagine businesses can instigate that kind of activity but what beyond that is needed?
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