As Bay Area residents and others flock to Sacramento to escape the housing crisis, low-income renters in the capital find themselves on shaky ground.
In its first-ever analysis of gentrification in the city, UC Berkeley’s Urban Displacement Project found that an astonishing 95,000 low-income households live in Sacramento neighborhoods that “are already undergoing or are at risk of becoming hotbeds of displacement.”
Sacramento — the top destination for those looking to leave the costly, traffic-jammed Bay Area — was the fastest-growing big city in California last year. About 75 percent of Redfin users moving into the greater Sacramento region come from the Bay Area, according to the real estate site’s analysis.
“Blame it on the Bay Area,” said Sacramento City Councilman Jay Schenirer, whose district includes Oak Park, the poster child for the city’s gentrification challenges. “We have a lot of people moving up here who are paying cash for their homes.”
Come on, reported and posted on this SIX HOURS AGO!!!
I think this will continue for next 3 years
We will see rent control in Sac pretty soon.
So still a good time to buy in Sac? Though I’m skeptical of Sac immigration. Are people moving there for jobs? Or for retirement? If it’s the job, I would be more interested
Retirement income is more steady that job income. Plus the State Government is an economic engine that will never die. Many newbies are cash buyers and will never sell… pretty bullish for Sac Prices.