As COVID-19 reshapes our economy, our newsletter will help you unpack the news from the day.
Oakland, California, might be the center of gentrification
Share Now on:
Oakland, California, is a textbook example of the effects of gentrification.
Between 2007 and 2011, more than 10,000 Oakland homes were foreclosed; 42 percent of those homes were purchased by investors. Research by the Urban Strategies Council and Greenlining Institute revealed a massive disparity between available mortgages for white buyers in Oakland versus people of color, who make up more than half the city population. A little more than 8 percent of those home sales were properties that were flipped. As of 2015, flipping houses in the Bay Area still yields the highest profits in the country, according to RealtyTrac.
And like most houses in the area, it’s a flip.
Click the audio player above to listen to the interview.
If you’re a member of your local public radio station, we thank you — because your support helps those stations keep programs like Marketplace on the air. But for Marketplace to continue to grow, we need additional investment from those who care most about what we do: superfans like you.
Your donation — as little as $5 — helps us create more content that matters to you and your community, and to reach more people where they are – whether that’s radio, podcasts or online.
When you contribute directly to Marketplace, you become a partner in that mission: someone who understands that when we all get smarter, everybody wins.