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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.
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 ...
Among other discussions, the book provides a history of subsidized housing and discusses the phenomenons of white flight, blockbusting, and racial covenants, and their role in housing segregation. Rothstein wrote the book while serving as a research associate for the Economic Policy Institute , where he is now a Distinguished Fellow.
Real estate contingencies provide a way for one or both parties to back out of a real estate contract if certain specified conditions are not met — in other words, the sale is contingent upon ...
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 ...
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By Lucia Mutikani. WASHINGTON (Reuters) -U.S. single-family homebuilding increased to a 10-month high in December, indicating that construction activity regained some momentum at the end of the ...
To his point, the commercial real estate loan distress rate—or the percentage of loans that have been delinquent for over 30 days—soared 480% from February 2023 to 8.6%, signaling more capital ...