These areas share several common attributes worldwide: they feature a thriving high-end gastronomy scene that seamlessly blends popular cuisine with emerging food trends, and the local residents, representative of the working-class, effortlessly mingle with artists, intellectuals, journalists, and musicians. Interestingly, what was referred to as the bourgeoisie in Glass’s 1964 terminology, a term that may seem outdated today, is drawn to the vitality of poorer yet creative and pop neighborhoods. The driving force behind the ongoing allure of former working-class neighborhoods is the narrative of the “creative city” as the vibrant heart of urban centers. The city experienced one of the sharpest increases in Italy, estimated at +4.2 percent. In Milan costs are projected to rise once again. The group analyzed the evolution of housing prices in 11 Italian cities to forecast market trends for 2022. In Italy, for instance, this trend has been documented by the predictive algorithm of. Meanwhile, real estate prices continue to soar. Indeed, the cultural power of individuals, or the supposed “new creative class” (as described by urban studies scholar Richard Florida in The Rise of the Creative Class), is strategically utilized by those with the concrete power to shape cities – namely, governments and major real estate investment funds. Instead, we must examine the increasingly active role of governments and large corporations in promoting and economically capitalizing on gentrification. To understand such a complex phenomenon, it is crucial to shift our focus beyond individual actions or the sudden desirability of specific products (think avocado craze). Glass attributed these changes to the growing backing from the state for private real estate development, coupled with the relaxation of rent control regulations. “Once this process of ‘gentrification’ starts in a district” Glass wrote, “it goes on until all or most of the original working-class occupiers are displaced, and the whole social character of the district is changed”. Modest mews and cottages transformed, Cinderella-like, into elegant and expensive residences”.īut it was no fairy tale. Shabby Italian restaurants became sleek espresso bars. These areas were gradually shedding their working-class character, becoming accessible only “to the financially fittest who can still afford to live and work there. Glass, who relocated to London during the 1960s, noticed a significant transformation around the city and in various neighborhoods, such as Notting Hill and Islington. The term gentrification is a neologism that entered the language in 1964 and was coined by the German Marxist sociologist Ruth Glass.
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