According to a new study by the Harvard Business School, the opening of a new Starbucks in town might lead to an increase in home prices by 0.5% in that zip code, within the year. It is said there is a distinct correlation between opening a new café location and home prices in that area. However, that doesn’t mean that Starbucks will attract affluent residents.
Neighborhood development and renovations are always associated with the number of restaurants and grocery stores present in the area and the study says economists claim to have landed on an accurate way to evaluate gentrification. Based on their observations, the study asserts that a Starbucks opening can be a sign of gentrification. Read the full article here >>
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