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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.
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 ...
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).
The Fair Housing Act was passed at the urging of President Lyndon B. Johnson. Congress passed the federal Fair Housing Act (codified at 42 U.S.C. 3601-3619, penalties for violation at 42 U.S.C. 3631) Title VIII of the Civil Rights Act of 1968 only one week after the assassination of Martin Luther King Jr.
No, a 1040 is not the same as a W-2, but you use the information included on a W-2 to complete the 1040 form. A W-2 is the form employers use to report the wages paid to an employee during the year.
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 ...
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 ...