Which practice aids low-income persons in moving into previously-owned properties in higher-income areas?

Filtering down is a process in real estate where higher-income residents move out of lower-income neighborhoods, often leading to available housing that becomes accessible to lower-income individuals. This practice can sometimes result from market dynamics in which economic growth or gentrification causes an influx of wealthier residents into a neighborhood, leaving behind housing options that may be more affordable for those with lower incomes. Consequently, as wealthier residents relocate, the properties that become available can be purchased or rented by individuals from lower-income brackets, facilitating their entry into previously-owned homes in areas that are typically characterized by higher income demographics.

In contrast, gentrification refers to the transformation of neighborhoods through the influx of wealthier residents, which can lead to the displacement of existing lower-income residents, making it less supportive of their needs. Flipping involves buying properties, often at a lower price, renovating them, and then selling them for a profit. Urban renewal usually focuses on redeveloping and revitalizing run-down areas, which often leads to rising costs and may not inherently assist low-income families in acquiring homes in wealthier neighborhoods.