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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 blockbusters would then sell those same houses at inflated prices to black families seeking upward mobility.[1] Blockbusting became prominent after post-World War II bans on explicitly segregationist real estate practices. By the 1980s it had mostly disappeared in the United States after changes to the law and real estate market.[2]
- ^ Rubenstein, James M. (2014). The Cultural Landscape: An Introduction to Human Geography (tenth ed.). Pearson Prentice Hall. ISBN 978-1-56639-147-4.
- ^ Dmitri Mehlhorn (December 1998). "A Requiem for Blockbusting: Law, Economics, and Race-Based Real Estate Speculation". Fordham Law Review. 67: 1145–1161.