Seniors facing eviction fear homelessness and isolation as California’s housing crisis rolls on
Los Angeles Times quoted Richard Green of the USC Price School on the forces that drive gentrification.
Richard Green, director of the USC Lusk Center for Real Estate, said gentrification was being driven by supply and demand. Higher-income individuals increasingly want to live in urban centers. An underlying shortage of housing kicks off a chain reaction, pricing middle-class households out of wealthier areas and forcing those people to seek homes in more affordable neighborhoods.
Seeing an increase in demand, Green said, landlords in low-income areas raise rents or redevelop their properties to make more money and cater to wealthier individuals.