Gentrification and its discontents

Fears of gentrification are aired in the rapidly changing Berlin neighborhood

I have seen the “fuck yuppies”-tag on so many walls in Kreuzberg, Friedrichshain and even cozy Alt-Treptow.

Fear of gentrification in Berlin

This is a bit more elaborated statement on a board indicating the construction of new residential units on a piece of vacant land in Alt-Treptow. It says “Aufwertung = Verdrängung” which roughly  means “neighborhood improvements drive out current residents”.

Probably the best way to keep your rent down is to throw your garbage on the street in front of your house. Or put some graffiti at your neighbors freshly painted walls, as the tag below explains: “Wertminderung” means “depreciation / loss of value”.

Wertminderung

Boring economist might suggest to increase the home ownership rate to overcome the conflict between incumbents and new residents.

PS: I was so proud of this post’s title – and now I have to realize that others have used it before. Bummer.

Author: thies

Lecturer (Assistant Professor) for Real Estate Finance, Cambridge