Yes it’s unfortunate. Gentrification is a big win for homeowners, and a big loss for renters. Are there strategies that allow us to improve our neighborhoods without displacing renters?
The strategy is to make it really easy to build, then when rents rise, homeowners will sell their homes and build apartments or they will build second units in their backyards or second floors.
Another thing that would help is a land value tax (as opposed to a property value tax) which would promote the use of expensive land for more housing.
> Are there strategies that allow us to improve our neighborhoods without displacing renters?
Rent control; just as Prop 13 (adverse impacts in other areas aside) allows improving neighborhoods without displacing homeowners on limited incomes through property tax.
Of course, anything that prevents displacing renters will necessary produce some drag on financial incentives for local improvements. (Just as not displacing homeowners on fixed incomes does.)
Rent control helps current renters in the short term, but it's awfully inefficient and often makes it so there is less development and is thus not very forward thinking (meaning it's not good for people who would like to live there but can't because a lack of housing).
