The Red Spot

The 2008 financial crisis was one of the biggest shifts of wealth away from the Black community. In fact, reports suggest that over 80% of the wealth accumulated was lost and the racial wealth gap has only increased since the crisis. The predatory practices by banks, such as Wells Fargo, resulted in an acute impact upon Black communities. The Los Angeles area was not an exception to this rule. Because of the history of racial and economic segregation, which has sustained Black, Latinx and Asian communities, this disproportionately impacted non-white communities. Housing problems necessarily invoke politics of space. Politics of space are about social order and attempts to challenge or reproduce that order. Gentrification models are responses to a regional crisis, which is inherently linked to surplus. Part of Los Angeles, once populated with working class communities, has now been changed by a technicraft economy that has exploded as a response to the housing crisis of 2008.

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Created date

December 5, 2018