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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 ...
Concerned that white flight might occur, it enacted an ordinance in 1974 that prohibited its residents from having a "for sale" or "sold" sign on any real estate within the township. During the 1960s and 1970s, many communities in the United States had enacted similar laws in response to the practices of blockbusting. It was believed that by ...
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 ...
“Everyone thinks it's contained, possibly to commercial real estate, but we saw in '08, we saw in the '90s, we saw in the '80s, when people can't sell what they want to — meaning the garbage ...
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Blockbusting is an unethical business practice used in the United States real estate market. Blockbusting may also refer to: Blockbusting (game) , a combinatorial game in which players occupy cells on a 1 × n {\displaystyle 1\times n} strip
By 1950, the number of blacks had risen to 155,000, comprising about 55 percent of the population of Bedford–Stuyvesant. Over the next decade, real estate agents and speculators employed blockbusting to make quick profits. As a result, formerly middle-class white homes were turned over to poorer black families.