Critics argue the shift is being oversold. They point to earlier booms that faded as quickly as they arrived, and to the uneven way the benefits have been shared. “Some neighbourhoods are being transformed,” said one community organiser. “Others are watching from the other side of the river.” The data tells part of the story. Over the past eighteen months the figures have roughly doubled, and early numbers for this year suggest the curve has not flattened. The rest of the story is harder to measure: a change in mood, in what people say they want, and in what they are willing to pay for.
What happens next will depend on choices being made now, often in rooms most of us will never see. The next twelve months, almost everyone agreed, will be decisive.
How we got here
Still, the people we spoke to were broadly optimistic. Many described a sense of momentum they had not felt in years — a feeling that, for once, the direction of travel was in their favour.
Everyone said it would never work here. Now everyone wants to know how we did it.
Lena Fischer, reporting
For those on the ground, the debate can feel abstract. What matters is whether the rent is paid, whether the shop is busy on a Tuesday, whether the kids have somewhere to go after school. On those measures, the picture is more mixed than either side admits. There is also the question of who gets to decide. Local councils, national governments and private companies all have a stake, and their interests do not always line up. The result is a patchwork of rules that can change from one street to the next.
The view from the street
Officials are cautious about calling it a trend. “We have seen spikes before,” one analyst told us, “but what is different this time is how broad it is. It is not one city or one age group. It is everywhere at once.”
None of this happened by accident. Behind each of these changes is a long chain of decisions, experiments and, occasionally, happy mistakes — and a small group of people stubborn enough to keep going when the early results were disappointing.
