When Wall Street Controls the Housing Market
planetizen.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from planetizen.com Daily Mail and Mail on Sunday newspapers.
Where should Berkeley allow 9,000 new homes to be built? City will start trying to figure that out
sfchronicle.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sfchronicle.com Daily Mail and Mail on Sunday newspapers.
GUEST WORDS It s no secret - marginalized communities in Los Angeles are in constant threat for falling victim to displacement and gentrification.
Everybody knows it, but very little has been done to address this crisis. Los Angeles is experiencing a housing crisis. The influx of internal migrants coming to the city, paired with limited residential space, creates a high demand for Los Angeles housing. As a result, we have seen housing costs skyrocket. According to the LA Times, the average rent in the city has increased by 65% since 2010, while median household income has only increased by 36%. More than half of the city’s residents are renters by necessity, not choice. In an effort to cut housing costs, many affluent individuals have begun moving to neighborhoods like Boyle Heights, Echo Park, and now Exposition Park historically low-income neighborhoods populated by marginalized communities.