Manville Examines Impact of Gentrification on Rent
Urban Planning Associate Professor Michael Manville was featured on KCRW’s “Greater L.A.” in an episode about the impact of housing supply on rent prices. “It’s important to separate this big question of gentrification with the question of what happens to rent,” Manville said. His research has shown that adding to the housing supply lowers nearby rent, but he explained that the trend is “not always easy to see because developers like to build in places where rents are already rising.” Considering neighborhoods where housing demand is already increasing, Manville asked, “Do you want newer residents moving in and displacing residents in the existing housing, or do you want them to be in brand-new housing where, while they will change the neighborhood by their presence, they don’t put as much pressure on the existing housing stock where a lot of the current people live?”
Leave a ReplyWant to join the discussion?
Feel free to contribute!