Gentrification: Erosion of the "American Dream"

Although gentrification is on the tip of the tongue for most Bay Area residents, many may not understand or see the adverse affects of those impacted. The definition of gentrification according to Merriam-Webster Dictionary is the process of repairing and rebuilding homes and businesses in a deteriorating area (such as an urban neighborhood) accompanied by an influx of middle-class or affluent people and that often results in the displacement of earlier, usually poorer residents.

It should come as no shock that California is ranked amongst the least affordable for black families with San Francisco at a staggering 0.4% whereas white households still afford 20% of homes for sale in 2018 according to Tim Ellis, Senior Data Journalist / Real Estate Analyst. Although California has the lowest affordability rates for black families, this trend is not a local epidemic as affordability has dropped nationwide between 2012 and 2018.

We would like to pose the question, what are we to do about this? Many would have you believe that the answer is simply provide more housing to the Bay Area. Does the issue of density solve the concern of affordability and extreme gentrification or does it simply allow those who can already afford housing the opportunity to continue to grow their wealth?

Looking for the light at the end of the tunnel? There may be a small glimmer of hope, for there are those who are trying to do their part to curb the degradation of the disadvantaged. Many organizations have dedicated their time and resources to such causes. Two such local organizations are East Bay Permanent Real Estate Cooperative (EBPREC) and Sustainable Economies Law Center (SELC). EBPREC has inspired us to take action and think outside of the box, while SELC has proven an invaluable resource in helping us establish cooperative housing for our clients who would otherwise be unable to afford or qualify individually.

Helping to establish cooperative housing is our means of contribution in counteracting the effects of gentrification and we will continue our efforts to explore new and innovative ways to empower those being displaced by greed and systemic oppression.

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