do you guys know what "blockbusting" is? real estate ppl use fear of blacks to g
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Date: August 16th, 2015 9:31 PM Author: Greedy internet-worthy area
et homes at firesale prices. you move one black family in to a house in the neighborhood and have loud reggae parties every day. hire black women to push around black babies in strollers. then stuff everyone's mailbox with flyers that say
"Property values in this neighborhood are dropping fast. We will offer you [pennies] for your house so you can get out before your house is worth nothing!"
then they would sell the houses to more blacks (which made the flyering even more effective and believable) with predatory financing terms that would eventually result in firesale prices during foreclosures. rinse and repeat.
they made millions and billions.
https://en.wikipedia.org/wiki/Blockbusting
(http://www.autoadmit.com/thread.php?thread_id=2965276&forum_id=2#28565504) |
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