In core area cities the practice of buying up and rehabilitating deteriorating housing which resulted in the raising of housing values and a social change in neighborhoods is called

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The practice described in the question is known as gentrification. Gentrification often results in rising property values and improved social and economic conditions in an area. Public housing refers to government-provided housing for low-income individuals and families. White flight refers to the phenomenon of white residents leaving urban areas for suburban or rural areas. Urban renewal involves the redevelopment of urban areas, often involving demolition and new construction.

In Core Area Cities the Practice of Buying Up and Rehabilitating