What Happened To Oakland? | Rapidly Changing Demographics | #CallJerry Ep. 4

Going back to 2007, Oakland California has seen massive change. Jerry outlines causes behind rapidly changing demographics, property ownership and building generational wealth in this video.

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From 2007 to 2011 1 out of 7 homes received a notice of default.

11,057 homes were foreclosed on, in which 82% of those homes were in low income areas.

On average more than 500 families in California have lost their home every day from late 2007-2013.

In turn home prices in Oakland dropped by 73% percent. Hence why from January 2007 to October 2011, 42% percent of foreclosed homes in Oakland were purchased by real estate investors.

From 2013 to 2020 home prices in Alameda County have increased 53%.

(The term notice of default refers to a public notice filed with a court that states that the borrower of a mortgage is in default on a loan. The lender may file a notice of default when a mortgagor falls behind on their mortgage payments.)

Information Sources:
(Source: Urban Strategies council)
(Source: Center for Responsible Lending)
(Source: Car.org)

Видео What Happened To Oakland? | Rapidly Changing Demographics | #CallJerry Ep. 4 канала Jerry Beverly