Blockbusting is a practice in which real estate agents convince white residents in a particular area to sell their homes at below market prices because of the threat of racial minorities moving into those areas. The real estate agent would then purchase the home and sell it at inflated prices to minorities looking for upward mobility. Fortunately, it has mostly disappeared due to strong changes in the law in the real estate market. Most notably, the Fair Housing Act of 1968 was enacted to protect people from discriminatory practices related to the following seven traits: color, disability, familial status, national origin, race, religion and sex. If you ever believe you have been a victim of discrimination in real estate or mortgage lending or know someone who has it’s imperative to file a complaint as soon as possible with the Department of Housing and Urban Development at hud.gov. I’m Stewart Brown, a licensed Mortgage Loan Originator in Palm Springs, California here to simply topics in Real Estate and Mortgage Lending. Please, like, share, follow and subscribe!
