THE RENT GAP DEBUNKED

The rent gap theory of gentrification has inspired a substantial amoun t of critical attention as well as several empirical studies. None of these studies addresses a fundamental problem with the rent gap hypoth esis-namely, its dependence on a distinction between actual and potent ial land rent. That distinction does not contribute to the explanation of either the location or timing of changes in land use. And, contrar y to some claims, there are no antecedents for the rent gap in the his tory of economic ideas-whether Marxian or neoclassical. It is conclude d that the standard neoclassical concept of land-use succession is mor e coherent than the rent gap concept. However, neither approach explai ns how neighbourhoods previously subject to disinvestment come to be p erceived to have the potential for reinvestment and higher land rents.