It’s Not About Yuppies Anymore: Gentrification Has Changed | The New York Observer

It’s Not About Yuppies Anymore: Gentrification Has Changed | The New York Observer: Wine bars and cafes serving soy lattes are still the grounds on which class battles are fought, but now they are the endangered rather than the invaders, the turf that stands between the ultra high net-worth individuals of the world and everyone else. The gentrification skirmishes in New York today are characterized by upscale restaurant which cannot afford the rents paid by international fashion houses and companies who increasingly see New York stores as a branding necessity rather than a physical place to sell goods. Just as the global elite increasingly see New York as a place to park some of their massive fortunes, rather than as a place to live.