A poor neighborhood in an urban area includes several buildings that are in disrepair. Though many people living there are older adults who have owned their homes for decades, rising costs of living make it difficult for them to feel financially secure. Even though the neighborhood lacks resources like sidewalks, the cost of real estate is high enough to make buying a house affordable for young adults, and so many people who grew up there have moved out of the area.
Real estate investors have begun to purchase decrepit buildings and tear them down, then replace them with commercial buildings that they think will appeal to wealthier people, including people willing to commute to a tech company in a different part of the city. This, in turn, causes property values-and, subsequently, taxes-to rise in the neighborhood. More people are considering selling their houses in order to take advantage of the higher property values, but they would be unable to purchase a new home in the area if they do so.
The neighborhood is undergoing

Question

Quizplus · Accepted Answer

The neighborhood is experiencing gentrification, which is characterized by the renovation of deteriorated urban neighborhoods by means of the influx of more affluent residents, leading to increased property values and the displacement of lower-income families and small businesses.

A Poor Neighborhood in an Urban Area Includes Several Buildings