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The basis of the dual housing market model is that similar housing opportunities are available to different racial groups at different prices. There are many explanations for the existence of a dual housing market. [1] [2] [3] One theory explains the dual housing market through racial steering.
Racial steering refers to the practice in which real estate brokers guide prospective home buyers towards or away from certain neighborhoods based on their race. The term is used in the context of de facto residential segregation in the United States , and is often divided into two broad classes of conduct:
"The United States Supreme Court defines steering as a 'practice by which real estate brokers and agents preserve and encourage patterns of racial segregation in available housing by steering members of racial and ethnic groups to buildings occupied primarily by members of such racial and ethnic groups and away from buildings and neighborhoods ...
Housing segregation in the United States is the practice of denying African American or other minority groups equal access to housing through the process of misinformation, denial of realty and financing services, and racial steering. [43] [44] [45] Housing policy in the United States has influenced housing segregation trends throughout history.
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These regulations had the net effect of reducing housing construction and reducing the ability of regional housing stock to adjust to changing market conditions. Beginning in the last quarter of the 20th century, market-wide housing shortages have existed in a growing number of markets throughout the country, starting in prosperous coastal ...
Real estate has been a roller coaster over the last four years. Home prices surged during the pandemic, followed shortly after by rents, then interest rates soared and stamped down the growth of...
This disparate treatment of a person on the housing market can be based on group characteristics or on the place where a person lives. [1] The most straightforward form of housing discrimination involves a landlord who rejects offers from potential tenants based on factors such as race, age, gender, marital status, source of funding, [2] and ...