Search results
Results from the WOW.Com Content Network
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.
They finally began to move into new neighborhoods. In the 1950s-60s, real estate speculators exploited white homeowners’ fears on the West Side of plummeting real estate values because of neighborhoods that had ethnic change. Realtors went door-to-door to persuade white homeowners to sell because blacks were moving into the neighborhood.
Linmark Associates, Inc. v. Township of Willingboro, 431 U.S. 85 (1977), was a case in which the Supreme Court of the United States found that an ordinance prohibiting the posting of "for sale" and "sold" signs on real estate within the town violated the First Amendment to the United States Constitution protections for commercial speech.
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).
Many of these agreements were in the form of covenants in a house's deed which explicitly blocked sales of the homes to anyone not of the "Caucasian race". [10] Chapter six discusses white flight and blockbusting tactics used by real estate agents to accelerate the migration in order to make a profit. [10]
Here's How To Become a Real Estate Investor for Just $1K Using This Bezos-Backed Startup How Middle-Class Earners Are Quietly Becoming Millionaires -- and How You Can, Too
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 ...
Donald Trump was threatening to send Meta CEO Mark Zuckerberg to prison “for life” if he interfered in the election just a few short months ago—but come Thanksgiving, the bad blood appears ...