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Blockbusting was a business practice in the United States in which real estate agents and building developers convinced residents in a particular area to sell their property at below-market prices. This was achieved by fearmongering the homeowners, telling them that racial minorities would soon be moving into their neighborhoods.
As early as 1927, the California Real Estate Association (the eventual sponsor of Proposition 14) began to advise its membership in ways to keep California communities all white. [5] This was part of a decades-long campaign by real estate interests to undercut the rights of minority groups in regard to housing facilities in California. [5]
For many years, urban community organizations had battled neighborhood decay by attacking blockbusting (deceptive encouragement of white flight from neighborhoods in order to buy up real estate at a huge discount and then rent to low-income, usually black tenants), forcing landlords to maintain properties, and requiring cities to board up and ...
Following World War II, Chicago's South Side had become increasingly overcrowded as African Americans moved from the South in the second wave of the Great Migration.Unable to attain decent and sanitary housing in white neighborhoods because of racially restrictive real estate covenants and mortgage redlining by the Federal Housing Administration (FHA), African Americans were confined to the ...
The real estate business practice of "blockbusting" was a for-profit catalyst for white flight, and a means to control non-white migration. By subterfuge, real estate agents would facilitate black people buying a house in a white neighborhood, either by buying the house themselves, or via a white proxy buyer, and then re-selling it to the black ...
Redlining was an established practice in the real estate industry before the federal government had any significant role in it; to the extent that any federal agency is to blame for perpetuating the practice, it is the Federal Housing Administration and not the Home Owners' Loan Corporation. [25] [23]
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:
Among the asserted practices was that Keefe attempted to generate sales by panicking white homeowners into selling at below-market prices by suggesting that African Americans would soon be living nearby, then selling the houses to African Americans at market value or higher (a practice known as blockbusting).