Tagged : Real Estate Blockbusting

Blockbusting is term in real estate that refers to the outdated and outlawed practice of developers and real estate agents who worked to reduce property values by lying to white homeowners about minorities moving into their neighborhoods. Many such homeowners in racially segregated neighborhoods did sell their homes for well less than market value. Property values continued to decline as developers would buy the homes at a great discount and then leave them abandoned in further effort to give the neighborhoods the look of a slum.

Nefarious real estate agents would hire non-white people to pretend they were looking to buy a home in a white neighborhood in order to scare the homeowners into selling their homes at discounted prices. The practice of selling…