It’s not the Starbucks, it’s the gentrification

A recent study by the Harvard Business School reported that having a Starbucks open in the vicinity can add a 0.5 percent increase in housing prices in the neighborhood. However, other analysts were quick to point out that it wasn’t the presence of Starbucks per se but an indication of affluence in the area.

Commonly referred to as gentrificationthe process of rebuilding homes and businesses accompanied by an influx of middle-class or affluent people at the expense of earlier, often poorer residents – it is usually associated with increases in the numbers of grocery stores, cafes, restaurants, and bars in the area.

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