UCLA Center for Neighborhood Knowledge was featured in a Washington Post article covering how the coronavirus pandemic and subsequent economic recession could wipe out minority-owned businesses in ethnic enclaves throughout Los Angeles. This could usher in a new, unprecedented gentrification crisis that would wipe out the longtime residents of these communities.
“The covid-19 recession is disproportionately hurting these minority businesses, making their communities more vulnerable to gentrification pressures than they already were before,” said director and Professor Paul Ong. “The expectation is that minorities will lag behind in the recovery, putting them in a weaker position to hang onto their businesses. That will make these areas much more attractive to outside investors in terms of profits because the prices will be lower.”
To read more, access the full article here >>> A new gentrification crisis: the coronavirus recession could wipe out minority-owned businesses, fueling displacement from historic ethnic neighborhoods