Mexican President Claudia Sheinbaum provided an in-depth explanation of gentrification during her Wednesday morning press conference, focusing particularly on its impact in Mexico City neighborhoods popular with foreign residents, such as Condesa and Roma.
Sheinbaum defined gentrification as the displacement of original residents by more affluent newcomers, emphasizing that the phenomenon “is not necessarily associated with foreigners coming to live in Mexico.” She noted that gentrification has occurred in Mexico City and many cities worldwide, sometimes promoted by government policies.
The president specifically criticized former Mexico City mayor Miguel Ángel Mancera’s administration (2012-2018) for rezoning land to permit larger construction projects, which she described as profitable for developers but problematic for long-term residents.
To address these concerns, Sheinbaum highlighted her administration’s focus on building social housing near employment centers rather than on city outskirts. She stated that while land use regulations primarily fall under municipal and state jurisdiction, the federal government would support Mexico City Mayor Clara Brugada and borough mayors in their efforts to combat gentrification.
The Right to Housing
“In the end what we want is the right to housing and the right to the city to be guaranteed,” Sheinbaum explained, describing this as the ability to enjoy urban benefits without being forced to peripheral areas.
The president also acknowledged that the United States has postponed sanctions against Mexican financial institutions Intercam, CIBanco, and Vector until September 4, 2025. These institutions were accused by the U.S. Department of the Treasury of laundering money for drug cartels. The Mexican government has assumed temporary management of these entities to strengthen supervision and prevent harm to users of the financial system.
For more details, you can read the full article on Mexico News Daily.
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