Anderson For YDA

A little legalese

Blockbusting

For profit to induce or attempt to induce any person to sell or rent any dwelling by representations regarding the entry or prospective entry into the neighborhood of a person or persons of a particular race, color, religion, or national origin."

For instance, a real estate broker tells a white family "darkies are coming" and the white family sells slightly lower than the market rate in order to avoid the impending bottoming of the housing market because minorities are coming. However, the real estate broker now sells to a minority family but at a higher than normal rate making claims that the neighborhood is integrating and the high price is the surcharge one pays to move in an integrated neighborhood.

The real estate agent is performing market arbitrage and keeps all profits. Needless to say such actions are now illegal 42 USC Sec. 3604(e).

posted by Kris Anderson @ 9:41 PM