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Book of the week

Race for profit : how banks and the real estate industry undermined black homeownership (EBOOK)

race_for_profitKeeanga-Yamahtta Taylor author

LONGLISTED FOR THE 2019 NATIONAL BOOK AWARD By the late 1960s and early 1970s, reeling from a wave of urban uprisings, politicians finally worked to end the practice of redlining. Reasoning that the turbulence could be calmed by turning Black city-dwellers into homeowners, they passed the Housing and Urban Development Act of 1968, and set about establishing policies to induce mortgage lenders and the real estate industry to treat Black homebuyers equally. The disaster that ensued revealed that racist exclusion had not been eradicated, but rather transmuted into a new phenomenon of predatory inclusion.   Race for Profit uncovers how exploitative real estate practices continued well after housing discrimination was banned. The same racist structures and individuals remained intact after redlining's end, and close relationships between regulators and the industry created incentives to ignore improprieties. Meanwhile, new policies meant to encourage low-income homeownership created new methods to exploit Black homeowners. The federal government guaranteed urban mortgages in an attempt to overcome resistance to lending to Black buyers - as if unprofitability, rather than racism, was the cause of housing segregation. Bankers, investors,...

Last updated 11/15/2021 by P. Higo
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University of Detroit Yearbook Collection: The Red and White 1924
Dichotomy: School of Architecture Student Journal
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Fr. Edward J. Dowling, S.J. Marine Historical Collection: Eastern States
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University of Detroit Yearbook Collection: The Red and White 1925
Maurice Greenia, Jr. Collections: Drag the Morning after
University of Detroit Chorus Collection
Dichotomy: School of Architecture Student Journal
Maurice Greenia, Jr. Collections: Thought Farm
University of Detroit Yearbook Collection: The Tower 1929
Dichotomy: School of Architecture Student Journal
University of Detroit Football Collection: University of Detroit vs. Villanova Program
Maurice Greenia, Jr. Collections: Stump Speech
University of Detroit Football Collection: University of Detroit vs. Miami Program
University of Detroit Chorus Collection
University of Detroit Chorus Collection
Fr. Edward J. Dowling, S.J. Marine Historical Collection: Queenston

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