GGR 357 H1F Geography of Housing and Housing Policy

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GGR 357 H1F Geography of Housing and Housing
Policy 
Session 6 Neighbourhood transitions June 4, 2008
DR. AMANDA HELDERMAN
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Session 6 Neighbourhood transitions

• Announcements
• Midterm answers
• Neighbourhood transitions
• Factors of neighbourhood changes
• Theoretical models that explain transitions in an
  area
• Research methods
• Gentrification, branding, marketing
• Roles of culture versus that of the economy

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Announcements

• Paper assignment due June 20, 2008
  http//individual.utoronto.ca/helderman
• Dont wait too long with contacting me if you
  have any difficulties!
• Please consult previous lecture notes/ slides
  before contacting me

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Announcements

• Final exam
• Similar format as midterm
• 85 about sessions after the midterm
• 15 about sessions before midterm
• Final exam on June 23, 2008, 5-7 pm
• Wilson Hall (New College)
• Room 1016

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Announcements

• Topics to tackle before the final exam
• Neighbourhood transitions - today
• Access to housing housing allocation Monday
  (9th)
• Housing affordability and quality Wednesday
  (11th)
• Meanings of home and attitudes toward
  homeownership Monday (16th)
• Reflection on the role of the government and
  other actors in the public domain Wednesday
  (18th)
• Last session a review if schedule allows it

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APUS class representative (part 1)

• The association of Part-Time Undergraduate
  Students (APUS) is accepting those summer
  students who are taking 1.0 credits or less as
  our members. We encourage you to participate in
  APUS by becoming a representative for your class.
  The following are some of the issues that APUS is
  active in by addressing

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APUS class representative (part 2)

• tuition freeze,
• university/government financial aid for part-time
  students,
• part-time student on-campus housing,
• family care, and
• summer/evening course selection.
• As a class representative, you would receive
  periodic information updates from APUS and keep
  your classmates informed about upcoming summer
  social events, meetings, important issues and
  campaigns. You would also bring back to APUS
  feedback you receive from your classmates on
  issues and concerns.
• Contact 416-978-3993 or info.apus_at_utoronto.ca

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Exam answers - Question 1

• a) Explain why housing is so attractive to
  individuals (mention at least 3 reasons for 1
  point each, up to 3 points).
• Homeowners build up equity from their homes, they
  enjoy on average a better housing quality, they
  are free to customize their home, they are
  independent and have full control over their
  housing situation, homeownership represents
  continuity and stability, homeownership to many
  represents status, and finally it also represents
  emotional value.

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Exam answers - Question 1

• b) Give 3 definitions of housing (6 points).
• Physical product/ facility (bricks and mortar),
  commodity/ economic/ exchange good, investment
  good/ asset, sector of the economy, social/
  collective good, building block of neighbourhoods
  (2 points each up to 6 points)

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Exam answers - Question 1

• c) What was Bournes definition of housing?
  Include an example to illustrate what that means.
  (4 points)
• Housing can be described as a bundle of services
  (2 points). Services that housing delivers
  shelter, wealth, shelter from inflation
  (capital), accessibility to services,
  accessibility to work, accessibility to
  neighbourhood, social status, right to privacy
  (add 2 points for any of the examples including
  an explanation of the definition).

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Exam answers - Question 1

• d) Why did he land on this definition(2 points)?
• All alternative definitions are applicable at the
  same time, but some meanings are separated or
  confused. Alternative 1 The definitions provided
  previously overlap and are thus confusing
  definitions to co-exist in explaining one and the
  same concept. Alternative 2 They overlap and are
  thus confusing definitions to co-exist in
  explaining one and the same concept (2 points).
• d) Mention 2 deliverables of housing in this
  context (2 points).
• Any two of the following 6 is correct Shelter
  from the elements, value/wealth/equity for
  owners, shelter from taxes, accessibility of
  services, accessibility of work, accessibility
  neighbourhood, social status, and/or right to
  privacy.

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Exam answers - Question 1

• e) Describe why housing is important for
  understanding neighbourhood dynamics (4 points).
• Housing is the principle mechanism through which
  urban neighbourhoods change moves of households/
  activities (demographic change), new developments
  (demographic, economic, social, cultural), aging
  of real estate, and/or fluctuations in house
  prices. Not all examples are necessary. Answer
  must reflect some idea of how neighbourhoods
  change through housing or rather the matching
  process of households and housing (stock).

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Exam answers - Question 1

• f) Explain, by using an example, why housing can
  mean different things to different people at the
  same time (4 points).
• Housing can mean different things to different
  people at the same time. First it is an
  investment good for the developer, and later it
  can be an investment good for the owner-occupier,
  anticipating that the property will increase in
  price. To the construction company housing is an
  industry, to the user the same object can mean
  shelter. Any logical explanation is OK, as long
  as definitions of housing are matched as
  described under b.
• So far all answers could be retrieved/ could have
  been studied in Bournes chapter 2 and lecture
  slides of the introduction/ first lecture.

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Exam answers - Question 2

• a) Mention the three classic ways of modelling
  housing market behaviour (6 points).
• Gravity Models, Push-Pull Models, Markov Chains
  (2 points each, up to 6 points).
• b) Explain the main differences in the
  assumptions of these models (5 points).
• Gravity models assumptions are based on the
  characteristics of places, push-pull models are
  based on the individual assessments of
  characteristics of places, Markov chains are
  based on the probabilities of moving to each home
  in the chain of housing vacancies (4 points plus
  1 point for the latter).

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Exam answers - Question 2

• c) Mention the two newer approaches (4 points).
• Microeconomic and life course approaches (2
  points each).
• d) Name one main difference and one commonality
  between the two (4 points).
• They both view moving behaviour as adjustment
  mechanisms to adapt to new needs in the
  household and/ or dissatisfaction. They both
  incorporate micro-economic decision making. ?

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Exam answers - Question 2

• The life course perspective however, adds
  individual perspective on how a move may occur
  (by changes in the household, labour, education
  and housing career). In other words, demographic
  events (which are universal) are introduced as
  milestones that help understand housing market
  behaviour. The life course theory forges
  theoretical and empirical work. (2 points for one
  difference, 2 points for one commonality, up to 4
  points in total.)

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Exam answers - Question 2

• Give two reasons why short distance moves occur
  more frequently than long distance moves (3
  points each, up to 6 points in total).
• Short distance moves occur more often because the
  dominating motive for moving (housing and
  household motives) relate to housing
  characteristics (3 points). (Larger house
  required because more members in the household. A
  better house, etc.) These motives do not incur a
  long-distance moves like moving for a job might
  do. If you move over a short distance, you do not
  need to change jobs in most cases (another 3
  points). Predominance of motives for moving thus
  incurs more short-distance moves.

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Exam answers - Question 3

• III. Touch upon The parallel careers or domains
  in the life course (mention at least three, one
  point each, up to a maximum of 3 points).
• Household career
• Housing career
• Education career
• Labour career

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Exam answers - Question 3

• How these trigger a move, by describing examples
  (2 points each, up to a maximum of 6 points).
• Household career triggers a move by
  cohabitation, child birth, divorce/separation,
  remarriage, widowhood through demand for less or
  more space, or a necessary change in location.
• Education career triggers a move by enrolling
  into higher education that is not in the same
  place as your parental home.
• Labour career triggers a move by changing jobs in
  a location to where there is no sustainable daily
  commute possible. Generally this is due to
  distance.

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Exam answers - Question 3

• Name 2 out of 4 life course stages (2 points
  each, up to a total of 4 points).
• The four life course stages are home making,
  child bearing, child rearing, post child.
• Describe what the link is between the life course
  theory and housing demand (up to 3 points).
• Households create a set of circumstances by their
  combined behaviour. Alternatives are OK, within
  reason.

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Exam answers - Question 3

• Explain what was so new about the life course
  theory (name 3 innovative aspects out of the 6
  discussed for 3 points each, for up to 9 points
  in total).
• Convergence of theory and empirical work
• Attention to individual households (micro-level)
• Residential location topic was brought into the
  centre of housing studies
• Individual action was linked with social change
  and social structure
• Demographic events were introduced as milestones
  and critical transitions in peoples lives
• The mechanisms are universal, applying to almost
  anyone, and throughout history

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Exam answers - Question 4

• Touch upon The definition of social exclusion (3
  points).
• Social exclusion Social exclusion occurs when
  people or groups decide consciously or
  unconsciously, to put up barriers, preventing
  others from full and equal participation, leading
  to a loss of rights, loss of power, lack of
  integration in society, affecting the ability to
  live fully.

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Exam answers - Question 4

• Background factors of social exclusion (3 for 2
  points each, up to a total of 6)
• Backgrounds of social exclusion racial
  discrimination, economic discrimination, gender
  discrimination, health discrimination, poverty
  discrimination, neighbourhood discrimination.

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Exam answers - Question 4

• The differences between social exclusion through
  housing and social exclusion from housing (2
  points)
• Exclusion from housing focuses on unmet housing
  demands while exclusion through housing focuses
  the shift outwards the impact of housing on
  broader societal participation.

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Exam answers - Question 4

• The definition of spatial segregation (3 points)
• Spatial segregation Spatial effect of social
  exclusion.
• The term social location (2 points)
• Social location Through housing, ones
  residential location and with that access to
  other services than housing is determined.

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Exam answers - Question 4

• A description with examples- of
  neighbourhoodism (4 points).
• Neighbourhoodism is a diminished access to
  services such as food deliveries, taxis, home
  insurance, housing elsewhere due to the
  reputation of the neighbourhood where individuals
  reside.

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Exam answers - Question 4

• How the spatial assimilation model aims to solve
  spatial segregation issues and why its
  applicability, in cases of neighbourhoodism, is
  limited (5 points).
• The spatial assimilation model assumes that
  newcomers start at the bottom of the
  socio-economic ladder. Once their socio-economic
  status improves, they will leave their initial
  neighbourhoods and start a cultural assimilation
  process. Cultural assimilation process does not
  account for limited possibilities of doing so by
  discrimination. Neighbourhoodism is one form of
  discrimination housing distributors may be
  biased about neighbourhoods with a certain
  reputation, limiting individuals opportunity
  structure.

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Exam answers - Question 5

• Match and explain
• Landlords
• Mortgage lenders
• Real-estate agents
• Planners
• Residents X

• Steering
• Family-based planning X
• Discrimination
• Gender-based planning X
• Redlining

Items marked with X do not have to be considered.
(One of both at the right side must be considered
though 1 point each)
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Exam answers - Question 5

• Match (1 point each) and explain (2 points each,
  total of 12 points)
• Steering Real-estate agents may direct certain
  buyers/ renters to certain areas (bias)
• Family-based planning Planners often design
  types of neighbourhoods based on a nuclear
  familys needs while nowadays one-person
  households and households without children are
  increasing
• Discrimination Putting up barriers for or
  denying access to groups of people based on
  certain characteristics
• Gender-based planning Planners often design
  types of neighbourhoods based on a nuclear
  familys needs while nowadays single women
  increasingly run their own household
• Redlining Refusal to provide loans/ mortgages
  for objects in low-income neighbourhoods or
  neighbourhoods with poor housing conditions

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Exam answers - Question 5

• Explain
• Social class hypothesis (4 points)
• Social class hypothesis assumes that all spatial
  segregation can be explained by socio-economic
  characteristics

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Exam answers - Question 5

• Explain
• How government policy of multiculturalism may
  lead to social exclusion (4 points)
• Multiculturalism may lead to social exclusion if
  sufficient access to language books and
  newspapers decreases literacy and English
  proficiency among second (or more) generation
  immigrants.

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Exam answers - Question 5

• Explain
• What the ethnic enclave model is based on (2
  points)
• The Ethnic Enclave Model is based on the notion
  that bonding with the own (ethnic) community does
  not necessarily weaken in the course of time.
  Spatial assimilation (acculturation) therefore is
  not necessarily a goal for ethnic groups, despite
  increased wealth/ higher income/ greater social
  mobility.

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Exam answers - Question 5

• What chain immigration is (1 point)
• Immigrants chose to live near their previously
  established immigrant friends and relatives
  resulting in a process named chain immigration.

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Exam answers - Question 5

• Explain
• How researchers who adopted the ethnic enclave
  theory would feel about the criticism on
  multiculturalism (2 points)
• Ethnic Enclave researchers will stress the
  advantages of threshold populations for not only
  language newspapers, but also for specialized
  products, churches and opportunities in ethnic
  entrepreneurship (often within the home).
• ANY QUESTIONS ABOUT THE MIDTERM?

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Neighbourhood transitions

• Aging of real estate
• Changing values of housing as a consequence of
  neighbourhood transitions
• Depreciation
• Declining housing quality
• Mismatches between housing and households
• Filtering downward or upward
• Residential relocations
• Changing composition of households
• Changing quality of housing and neighbourhoods

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Introduction to neighbourhood transitions

• Mechanisms of change
• Upward/ downward changes
• Theories/ concepts
• Effects of revitalization
• Literature

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Neighbourhood transitions

• When prices are low, some inner city environments
  are prone to gentrification
• Improvement in quality housing and neighbourhood
• Services may change (daily necessities get
  crowded out by trendy shops, restaurants and
  branches)
• Reduction in the availability of low cost housing
• Ultimately social polarization and displacement?

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Six major processes of change on the housing
market

• Occupancy turnover and the movements of
  households within the housing stock
• Filtering process and changes in housing quality
• Housing and neighbourhood change arbitrage
• Progression of housing vacancies through the
  stock (vacancy chains)
• Spatial variations in house price changes
• Revitalization and the return-to-the-city
  movement gentrification
• (Bourne, 1981)

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Households move through the housing stock

• Matching of households and housing
• Incomes and house prices act as the broad
  constraints on the likely behaviour of households
  and their occupancy of the housing stock
• Most moves within same tenure, but there is
  movement between segments, from private rental to
  owner-occupied
• Changes within housing stock (conversion)
• Simplified Cheap, small rental housing in CBD
  and expensive large owner-occupied housing on the
  edge of the city

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Filtering

• Any change in the relative position of the
  housing unit or the household in the inventory,
  or matrix, of housing units in the area
  filtering up and filtering down
• History concept Innermost rings in the city were
  occupied by a succession of social groups of
  decreasing income.
• Each zone filtered down over time.

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Filtering

• Based on specific assumptions from the ecological
  literature
• Demand for housing related to income (newer and
  more accessible)
• Housing depreciates with age, reducing the flow
  of housing services
• Encouraging those with sufficient income to
  relocate
• New construction is necessary and stimulating for
  filtering
• Welfare component housing could filter down to
  lower income groups, improving their housing
  quality
• Park, 1925 Hoyt, 1939 Ratcliffe, 1949

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Filtering

• Filtering up only occurs when price declines more
  rapidly than housing quality (Grigsby, 1963)
• Filtering up only occurs when the change is to a
  more preferred bundle of housing services (Leven,
  1976)
• Households can undergo filtering without moving
  passive filtering
• Households can undergo filtering by relocating
  active filtering
• Filtering recognizes the importance of external
  factors in determining housing conditions
• Filtering incorporated consumer preferences and
  expectations about housing services

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Types of filtering

• Changes in supply
• Changes in the position of households
• Changes in the matching of households and housing
• Changes in household welfare

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Filtering and policy

• Policy thinking if rate of new construction is
  faster than the rate of filtering downward, most
  lower-income households will be able to improve
  housing
• Lacks regard for distribution by price and
  quality
• Justifies construction of middle- and
  upper-income housing
• Assumption New housing will exceed household
  formation and real incomes will rise

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Criticism for filtering

• Housing of reasonable quality does not filter
  down and thus does not become available to
  lower-income groups
• Other reasons of unavailability
• Conversion to other uses or other forms of
  tenure, often for investment purposes
• Demolishment for roads, redevelopment, or parking
• Even if housing filters down, there is lack of
  mortgage availability, high rents,
  discrimination, and a low housing quality
• Filtering may not be an efficient or humane way
  of providing housing

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Arbitrage model of neighbourhood change

• A more recent version on filtering
• Placed central are the conditions and mechanisms
  that move boundaries between neighbourhoods of
  different socio-economic status and ethnic
  differences in an unstable housing market
• This approach unites elements of neighbourhood
  change with sub-market interrelationships,
  filtering and housing preferences
• Differs from filtering direct response to
  changes in preferences
• Leven, 1976 Little 1976

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Arbitrage model

• Mismatch of supply and demand
• Shift of boundaries between neighbourhoods
• Self-generating (self-fulfilling expectations of
  transitions)
• Access to housing by higher-income groups
• New housing realized outside neighbourhood
• Assumption people want to live with similar
  people

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Arbitrage model

• As boundaries shift, house prices differentiate
  according to four levels
• Centre of high status area
• Near boundary of low status area, in high status
  area (locational discount)
• Near boundary of high status, in lower status
  area (premium)
• Centre of lower status
• Demand influences prices and moves boundaries

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Arbitrage model

• The direction in which a boundary shifts is
  dependent on which group exercises the largest
  demand on housing
• If this is a low income group higher-income
  groups may be blown out by the demand, leading
  to a continued deterioration of the housing stock
• This is the core of the process of arbitrage
• Higher income households perceive a future
  decline in housing services through neighbourhood
  transitions
• They seek to move out to newer housing

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Arbitrage model

• Lower income households can not exercise that
  much choice
• Shrinking demand because of deterioration,
  demolition and abandonment
• Only profitable market alternative conversion
  (e.g. multi-family) arbitrage
• Discounted housing leads to lack of maintenance
  and physical deterioration

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Arbitrage model and non-residents

• Institutional lenders reinforce expectations of
  neighbourhood change by withdrawing investments,
  refusing loans, or demanding higher down payments
• Speculators may purchase housing but want a quick
  return which further accelerates under-investment
  and deterioration

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Vacancy Chains

• Perspective related to filtering
• Directly links housing units involved in
  household relocations
• Tricky to understand because, like housing
  careers and Markov Chains, they do not focus on
  households but on vacancy that is being
  displaced with every step (the moves thus go in
  the opposite direction)

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Example hermit crabs
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Vacancy Chains

• Vacancy chains are short because of diversity in
  the housing stock and because of the weakness of
  the method
• Especially short when there are a lot of new
  households and in-migrants, and where demolitions
  take place, chains are shorter when new public
  sector housing is constructed
• No or few homes are left behind in such cases

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Criticism on vacancy chains

• Links imply causal linkage that may not be
  existent (households do not know each other, no
  common denominator)
• Unsuitable for measuring if quality of housing
  for the poor is improved by filtering because the
  poor seldom appear in such chains, except when
  social housing is constructed
• Descriptive index on the aggregate level
• Insight into turnover generated by new
  construction

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Spatial variations in house prices

• Price most common index of housing market
  performance
• Four sets of factors that determine price
• Structural characteristics of the house
• Neighbourhood characteristics (phys soc)
• Location (accessibility)
• Institutional behaviour (fin. real est. agents)

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Stuctural characteristics of the house

• Size/ Floor area
• Lot size
• Number of rooms
• Level of improvements
• Garage
• Air Conditioning

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Neighbourhood characteristics

• Physically attractive/ scenic
• Pollution
• Higher-income neighbours

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Location

• Accessibility CBD (Hoyt, 1939)
• Multi-centred city many work locations
• Not the most important characteristic anymore,
  but there are still some signs of it

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Hedonic price estimation

• House value hard to determine sometimes
• Not many comparable units
• Individuals may value characteristics differently
• Solution hedonic price estimation, which is the
  result of multiple regression of housing
  characteristics

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Return-to-the-city

• Return-to-the-city movement since the 1970s, even
  though trend has always shifted between high- and
  low-income areas
• Suburban middle- and higher-income households
• Many labels revitalization, gentrification,
  white-painting

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Revitalization

• Improvement in housing and neighbourhood quality,
  combined with increase of average income
• Private action, individual or corporation action
• Quasi public housing associations, self-help
  groups, direct public grants action
• Streets or single houses
• Usually within fixed distance of CBD ( 3 km)

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Gentrification

• The investment of urban space for the use of a
  more affluent clientele (Hackworth Rekers)
• More explicit class connotation than
  revitalization
• Traditional working class neighbourhoods are
  invaded by middle and upper income groups
  (Hamnett, 1973)

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The Usual Areas

• Historic and attractive central area
• High proportion of professional occupations/
  offices
• Tight housing market
• Older housing with architectural merit
• Inner city amenities (parks, cultural
  institutions, etc.)
• Absence of ethnic strife
• Relative difficulties in commuting from suburbs

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The Usual Circumstances

• Demographic shifts (dink, smaller families)
• Employment (dual income) Disposable income and
  share to spend on housing has increased
• Costs suburban housing has increased since the
  1970s, while costs of commuting increased
• Shifts in tastes and housing preferences

66
Image branding/ packaging

• Developers can do a lot to create an image for a
  neighbourhood
• Financial institutions have influence by
  expediting transitions by extending mortgages to
  in-areas
• Ethnic packaging
• Ethnic commercial strips are marketable branding
  mechanisms, intended or not

67
Ethnic packaging

• Mistaken identities of areas such as Little Italy
• Only 10 of population Italian by mother tongue,
  even less by place of birth or spoken language
• Dissonance between cultural and commercial
  identities
• Since the 1980s and 1990s there is a recognition
  for the importance of culture
• Complication sometimes culture is produced by
  economic interests, not autonomous

68
Dualism between culture approach and economic
approach

• Culture approach gentrification is the spatial
  expression of a critical class politics
• Consumer dominance
• Neighbourhoods gentrify because of changing
  tastes and preferences
• Rejection of the suburbs because of the distance
  to work, isolation, and lack of diversity
• Cultural humanism as dominant influence humans
  have a certain degree of decision-making
  autonomy, and are not easily predictable (Ley,
  Caulfield)

69
Dualism between culture approach and economic
approach

• Economics placed central gentrification is
  caused by the availability of inexpensive real
  estate.
• Rent gap theory many neighbourhoods experienced
  disinvestment in inner-city, leading to a decline
  in potential rent (highest and best use)
• Gentrification takes place where the potential
  rent is far above the actual rent ? supply and
  concentration of devalorized land is necessary
• Gentrification is facilitated by developers and
  governments
• Marxian economics is the primary influence
• Smith/ Badcock/ Clark

70
Dualism between culture approach and economic
approach

• The early 1990s recession brought an end to large
  scale gentrification, seemingly supporting the
  culture hypothesis
• Note Demographics pointed in the direction of
  there being more people that would be interested
  in living in the suburbs at that time (maturing
  families)
• Two sides of the same coin, rather than a
  polarity of culture and economics
• Dualism is only problematic if ethnic identity
  may be marketed to sell real estate, because it
  draws the attention away from the way cultural
  amenities are strategically produced

71
Toronto examples

• Some areas have historical cultural identity, and
  some dont
• Little Italy has an Italian history, but there
  has been a shift since the 1970s in the type of
  economy and population from traditional and
  family orientated to trendy, the ethnic swoosh is
  all that remained of the original Little Italy
• College degree went up from 2.5 in 1971 to 32.5
  in 2001

72
Toronto examples

• A history of many identities Greektown on the
  Danforth (Cuban, Afghani, Japanese, Greek)
• Gentrification changed the economy, the
  population and housing
• House value and rent higher than for metropolitan
  area as a whole, exclusion of everyone except
  upwardly mobile young professionals
• More self-conscious promotion has led to a less
  trendy area than Little Italy, but still a
  happening place
• Chains moved in

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Branches moving into gentrified areas
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Toronto examples

• Corso Italia/ St. Clair area
• Some Italian history, though more recent than
  Little Italy
• Fashionable and high end, geographically and
  culturally isolated from rest of downtown, less
  tourist oriented
• The feel remains more working class and more
  Italian than yup, even though there are early
  signs of gentrification

75
Toronto examples

• Gerard India Bazaar
• Interestingly, no ethnic history except for a
  Hindi movie theatre (Bollywood productions) that
  drew in the East-Indian crowd from all over the
  GTA
• Entrepreneurs noticed the interest and started
  opening business but the residential identity was
  never parallelled
• Many immigrants, mostly Chinese
• Values of rent are below the metropolitan level
  and fluctuate considerably
• Incomes have declined in this area

76
Culture/ Economy

• Inclusion of culture seems analytically helpful
  for the study of cities
• Reproduction of ethnicity for consumption is
  rarely to promote displacement of residents
• Instead it attracts YUPs, whose activities are
  government supported (all levels of government)

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Consequences of revitalization

• Physical improvement of housing stock in the area
• Physical improvement of neighbourhood
• Higher prices and rents
• Reduces inventory of low-cost housing
• Dislodgement of original residents
• Social fabric of neighbourhood decreases
• Demand for local services (daily grocery
  shopping, schools) changes
• Land use densities and patterns
• Not necessarily bad or good

78
Literature for this session

• Hackworth, J. J. Rekers (2005), Ethnic
  packaging and gentrification. The case of four
  neighbourhoods in Toronto. Urban Affairs Review
  41/2, pp. 211-236.
• Slater, T. (2005), Gentrification in Canadas
  cities. In R. Atkinson and G. Bridge (eds),
  Gentrification in a global context the new urban
  colonialism, Chapter 3. London/ New York
  Routledge, pp. 39-56.
• Smith, N. (1987), Gentrification and the rent
  gap. Annals of the Association of American
  Geographers, 77/3, pp. 462-465.