The pioneers of gentrification: home prices are up even in areas with subpar schools and horrible street parking.
ByEvery time a housing bubble forms you get the same typical housing cheerleaders talking about massive gentrification. Many areas have gentrified in dramatic fashion but at the end of a housing bubble, you start seeing wild prices in areas where it is questionable if gentrification will or has occurred. In Southern California, the trend has been unrelenting to adding renter households. Some think that raising the minimum wage to $15 is going to inflate housing prices but this is simply nonsense. All this does is eat into more disposable income – that Big Mac will cost more or Taco Tuesday won’t be such a bargain. As if this new push will allow people to buy $700,000 crap shacks. When you read reports on housing from the media you get a deep sense that they’ve never been out to many of the zip codes in L.A. County. Take a look at an area that is very frothy but rarely talked about. Paramount…
