Older homes near downtown are being bought, gutted and upgraded by higher-income buyers, and prices are jumping block by block. Which life-cycle stage is this?
Correct Answer
A) Revitalization, driven by reinvestment
Why this is correct: The described process—significant capital investment by new buyers upgrading older properties, leading to rising prices—is revitalization (often called gentrification). This reverses a prior decline. Why the other choices are wrong: Stability involves little change. Decline involves deterioration. Growth typically involves new construction on vacant land. Exam tip: Revitalization = reinvestment reversing decline.
Why This Is the Correct Answer
Why this is correct: The described process—significant capital investment by new buyers upgrading older properties, leading to rising prices—is revitalization (often called gentrification). This reverses a prior decline. Why the other choices are wrong: Stability involves little change. Decline involves deterioration. Growth typically involves new construction on vacant land. Exam tip: Revitalization = reinvestment reversing decline.
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