2021
DOI: 10.1093/jahist/jaaa551
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Race for Profit: How Banks and the Real Estate Industry Undermined Black Homeownership

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Cited by 15 publications
(27 citation statements)
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“…This restricted homeownership opportunities in these areas and led to a heavy reliance on land contracts in which the buyer would pay the owner directly. Without the safety net offered through mortgages, if a buyer was unable to make a payment on time, they could be evicted and lose any equity they had built in their home 42 . Land contracts were also more expensive.…”
Section: Access To Housingmentioning
confidence: 99%
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“…This restricted homeownership opportunities in these areas and led to a heavy reliance on land contracts in which the buyer would pay the owner directly. Without the safety net offered through mortgages, if a buyer was unable to make a payment on time, they could be evicted and lose any equity they had built in their home 42 . Land contracts were also more expensive.…”
Section: Access To Housingmentioning
confidence: 99%
“…Without the safety net offered through mortgages, if a buyer was unable to make a payment on time, they could be evicted and lose any equity they had built in their home. 42 Land contracts were also more expensive. A 2019 study of the Chicago area during the time redlining maps were widely used showed that on average, Black Americans were paying $587 more per month (in 2019 dollars) for their home compared to those who had conventional mortgages.…”
Section: Access To Housingmentioning
confidence: 99%
“…Senegalese migrants could send remittances and enhance the quality of life of their loved ones who remained behind. At the same time that these classmates envisioned, according to Kareem, a path to home ownership in Senegal, African Americans in the USA were often unable to purchase their own homes because of redlining, predatory lending and other racist practices (Taylor 2019).…”
Section: Assumptions and Expectations Of Diaspora Black Muslimsmentioning
confidence: 99%
“…Thus, a regional rent gap was produced in which the housing pressure put on the region by the technology industry exacerbates longer histories of segregated and racist housing policies. This history includes racist housing covenants and practices of redlining that later gave way to “predatory inclusion” (Taylor 2019), creating a racially segregated housing regime at the regional level (Schafran 2018). Presently, the region is undergoing a re‐segregation through tech‐led gentrification and real estate speculation (Maharawal and McElroy 2018; Schafran 2021).…”
Section: The Tech Economy the Housing Crisis And Regional Transportationmentioning
confidence: 99%
“…As Stein (2019) argues, because real estate markets are plural (cf. Taylor 2019), building for the top of the market does little to reduce demand at the bottom. The fight against new market rate developments by housing organisations, such as the Housing Rights Committee of San Francisco, the San Francisco Tenant Union, Cuasa Justa:Just Cause, and Our Mission No Eviction, and the statewide coalition Tenants Together, went alongside other campaigns to address the housing crisis.…”
Section: The Tech Economy the Housing Crisis And Regional Transportationmentioning
confidence: 99%