Michael and Belinda bought a sprawling mansion at a reasonable price in an urban neighborhood.They renovated the house to include luxurious amenities and converted a simple structure into an upscale property.This is an example of _____.
A)
Gentrification
B) urbanization
C) residential segregation
D) pocket listing
E) self-dealing

Question

Quizplus · Accepted Answer

Gentrification refers to the process of renovating and improving a neighborhood or area, typically resulting in increased property values and the displacement of low-income residents by more affluent ones. In this case, Michael and Belinda bought a house in an urban neighborhood and renovated it to include luxurious amenities, which likely increased the value of their property and potentially contributed to rising property values in the surrounding area. As a result, this can potentially displace low-income residents who may not be able to afford the rising cost of living in the area. Thus, this is an example of gentrification.

Michael and Belinda Bought a Sprawling Mansion at a Reasonable