Though the process has arguably been around for centuries, the term is relatively new - coined by sociologist Ruth Glass in 1964 in reference to demographic transition in London. Glass's describes the process as such:
One by one, many of the working class quarters of London have been invaded by the middle classes - upper and lower. Shabby, modest mews and cottages - two rooms up and two down - have been taken over when their leases have expired, and have become elegant, expensive residences.
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