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By Morgan (registered) | Posted July 09, 2015 at 09:59:29 in reply to Comment 112674
Cause and effect is hardly tautological. I have made a statement of a logical outcome based on the available evidence; gentrification + market realities = displacement.
Moyle quite rightly pointed out that displacement can arise from other causes, making the displacement caused by gentrification irrelevant. As displacement will occur regardless, gentrification should not be limited by it as a factor. As you have not proven that displacement is a "market failure", I am unwilling to accept it, an unproven conclusion, as a premise. It logically follows then that it does not require correction. I do not see why you see this as an excuse to do nothing. Based on it, I encourage action, namely those actions that will accelerate the process of the neighbourhood's gentrification. I simply feel no pity because things are changing, nor do I see why rents and property values should be artificially limited in order to keep housing and stores available for people and businesses that cannot survive under fair market practices just because the neighbourhood is changing.
Nowhere did I say that everyone must go, that's a strawman argument and you know it. If the people who are in the area are providing goods and services that others want, and are able to make sufficient money to pay the increased rents, then by all means they should stay if it makes business sense for them to do so, as they are benefiting from increased demand and making more from it. I simply see no compelling reason to prop them up if they fail as a result of the gentrification process. You might as well attempt to keep the buggy-whip manufacturers churning out product because they were there before cars.
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