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Blockbusting is 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.
Dec 6, 2022 · Blockbusting in real estate is the illegal practice of convincing homeowners that their neighborhood is undergoing a significant change in demographics—typically portrayed as negative—so that they will sell or rent their homes at lower-than-market-value prices.
Blockbusting is the practice of real estate brokers convincing homeowners to sell their houses for low prices for fear that a neighborhood’s socioeconomic demographics are changing and will decrease home values.
May 5, 2021 · In the 1950s, the city of Compton was nearly all-white. But by the 1970s, it had turned majority Black — in part due to a state-sanctioned predatory real estate practice called blockbusting.
- Ailsa Chang
May 15, 2024 · Blockbusting, also known as panic selling, is the discriminatory practice of encouraging homeowners to sell their homes below market value due to the neighborhood’s changing demographics.
Jan 7, 2013 · Blockbusting refers to the practice of introducing African American homeowners into previously all white neighborhoods in order to spark rapid white flight and housing price decline. Real estate speculators have historically used this technique to profit from prejudice-driven market instability.
Aug 18, 2023 · The meaning of BLOCKBUSTING is profiteering by inducing property owners to sell hastily and often at a loss by appeals to fears of depressed values because of threatened minority encroachment and then reselling at inflated prices.
