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In the mid-1960s, as middle-class households began to purchase and renovate rundown, tenanted Georgian and Victorian terraces in the West End of London, the British sociologist Ruth Glass coined the term gentrification to describe a process of working-class displacement that changes the district's prevailing social character. Initially, the defining features of gen-trification included an influx of middle-class households and the renovation of working-class housing, invariably resulting in the displacement of tenants from gentrifying neighborhoods. Eventually, these processes are capable of completely changing the class composition and dominant tenure of inner area communities. Hence, in usage, gentrification has always referred to both the physical and social transformation of neighborhoods.

These days, given the large-scale residential redevelopment that is occurring in inner cities around the world, it is ...

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