Are Homebuyers Fleeing Echo Park and Silver Lake for Highland Park?

Our local newspaper of record thinks hipsters and gentrifiers are abandoning Echo Park and Silver Lake for Highland Park.

Sunday's Los Angeles Times posited this opinion: Homebuyers are abandoning the ever pricier precincts of Echo Park and Silver Lake in favor of more affordable Highland Park and its environs.

Attracted by an abundance of foreclosures and aided by interest rates near record lows, renovators are giving distressed properties a makeover. They're then reselling them to young professionals priced out of nearby Echo Park and Silver Lake, who are finding Highland Park's bike lanes, Metro Gold Line stop and sidewalk culture a welcome respite from the automobile.

The full story is here on the Times’ website. 

This isn’t the first time the Times has opined on the growing gentrification of our Northeast L.A. neighbor:

Our question for you: Is this a good thing? A bad thing? Is it even true?

Please chime in with your comments!

Miguel Villa March 12, 2012 at 07:45 PM
Yes of course it's true. Anyone who just takes a small look around and researches the real estate market in the area can see this is going on. And I can say it is because I have taken a tour of the Highland Park area with real estate agents who are all saying the same thing. First time home buyers that are renting in Silver Lake or Echo Park are moving to purchase in Highland Park. And real estate investors are buying distressed or homes that are in fore closure, investing money into giving them that hip look, renting the furniture to stage the properties and then selling them for a profit. This has been going on for years now in Highland Park. But in the last couple of years many investors have discovered this area and are doing this. My partners and I will also be jumping into the real estate market in Highland Park and doing the same thing. Whether it's a good or bad thing depends on who you ask. That is a personal opinion. But that it is happening is a fact.
Patrick Lee March 12, 2012 at 09:28 PM
Miguel: Thanks for your perspective. Do you think this will be good for Echo Park and Silver Lake?
Xo August 07, 2012 at 08:34 PM
Echo park and silver lake are already gentrified or close to fully being gentrified. Highland park is next in line. Why does it have to be good or bad for echo park and silver lake? All three of these neighborhoods were unsafe have had and some continue to have gang culture.
Anthea Raymond August 07, 2012 at 09:28 PM
@xo-Thanks for your comment. We did a poll not too long ago asking readers "Is Change Good or Bad?" 60 percent of the respondents said "Sometimes." Another third said, "Yes," with only a few responding, "No." Here's a link to the poll: http://patch.com/A-rBzv I think this gets at some of what you are talking about here.
rick August 16, 2012 at 12:19 AM
For communities that have been plagued with violence and have had its share of dark times such as Echo Park, Highland Park and Silver Lake one can argue that gentrification is the best thing to happen to the these neighborhoods. Or should I say Regentrification considering the history of these neighborhoods were not working class. The truth of the matter is young people are no longer looking to move and settle in the suburbs. By young people, I mean young, upwardly, mobile, college educated individuals who make a modest living. They are moving back to the city and revitalizing these neighborhoods.


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