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.
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