"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)

"The Fair Housing Act of 1968 established federal causes of action against blockbusting, including illegal real estate broker claims that blacks, Hispanics, et al. had or were going to move into a neighborhood, and so devalue the properties. The Office of Fair Housing and Equal Opportunity was charged with the task of administering and enforcing this law. In the case of Jones v. Alfred H. Mayer Co. (1968), the U.S. Supreme Court ruled that the Thirteenth Amendment authorized the federal government's prohibiting racial discrimination in private housing markets,[5] thus allowing black American legal claims to rescind the usurious land contracts (featuring over-priced houses and higher-than-market mortgage interest rates), as a racist real estate business practice illegal under the Civil Rights Act of 1866, which greatly reduced the profitability of blockbusting."

(http://www.autoadmit.com/thread.php?thread_id=2965276&forum_id=2#28565522)