Sudetenland Tales by Edward Drobinski - HTML preview
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Sudetenland Tales
Page 562
Mexican Gentrification – A Turnabout
Gentrification triggers housing crisis in Mexico
After the pandemic, Mexico experienced a tourist boom that has placed it as one of the favorite destinations for international travelers and digital nomads, who are the visible face of a real estate crisis, in which it is increasingly difficult for native Mexicans to access housing.
Accessing decent housing in Mexico City is an almost impossible mission though it is a constitutional right. Like other large Mexican cities, such as Guadalajara or Monterrey, the best areas of the capital are undergoing a process of gentrification, which has raised the cost of rent to levels that are inaccessible to the majority of the population.
In iconic areas of Mexico City, such as Condesa or Roma, rental prices for an apartment reach $2,500 per month or more. Only a privileged sector of people can pay them, taking into account that the general minimum wage in Mexico barely reaches $373 per month.
This has driven gentrification, which basically involves the displacement of the native population of one area by another with greater purchasing power.