The real gentrification story

The Times’ recent article on gentrification in Echo Park, like all of its kind, missed one fundamental truth: Gentrification starts, historically and consistently, when the original property owners -- regardless of ethnic origin -- realize that their property has appreciated (a lot) and freely choose to sell and get out of their quaint urban neighborhoods. Even when no real estate appreciation is involved, these homeowners flee to the safety and prestige of the suburbs or "posh" urban areas once they become financially successful.

By Lazaros Papademetropoulos

July 3, 2008