Property News · February 4, 2015

In gentrified cities which came first: Starbucks or higher real estate prices?


Two real estate experts claim Starbucks is responsible for driving up the cost of homes near its stores – but evidence indicates it’s the other way aroundLast year, the Williamsburg neighborhood of Brooklyn got its first two Starbucks – the first in July, and the second four months later. While across the river in Manhattan no one would blink an eye at yet another Starbucks popping up, in trendy Williamsburg the reactions were mixed. Some residents were miffed – who needs Starbucks when they have a dozen boutique coffee shops around the corner? Others were thrilled, hoping it was a sign of things to come.One of those things: higher real estate prices. Continue reading…

Source : theguardian.com
Read more…In gentrified cities which came first: Starbucks or higher real estate prices?

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