“By and large, if you take the redlining maps that were used before the passage of fair housing legislation and overlay them on present-day maps of pretty much any major city in the U.S., and certainly any city that has any meaningful Black population, they look really similar in the sense that Blacks are still largely shut out of those neighborhoods that they were legally shut out of during that time period,” Charles says. To quantify the lasting financial impact of redlining, according to a 2020 report by Redfin Real Estate, a typical homeowner in a neighborhood that was redlined for mortgage lending by the federal government has gained 52% less-or $212,023 less-in personal wealth generated by property value increases, than one in a greenlined neighborhood over the last 40 years. continue to not only be low-to-moderate income, but are much more likely than other areas to comprise minority residents. A 2018 study by the National Community Reinvestment Coalition showed that nearly 75% of neighborhoods redlined on maps drawn between 19 by the federal Home Owners’ Loan Corp. “There’s no way anyone can get out from under that.”īy the time discriminatory tactics like restrictive covenants, unfair home appraisals and redlining were outlawed, the damage was already done. “You’re charging Negroes more than 20% ?” a banker on the show asks the real estate bigwigs behind the sale of the Emorys’ home. As a result, lenders intentionally sabotaged the financial futures of entire neighborhoods. Redlining and similar practices were used to reject financial services to certain areas, often because of minority populations. The fifth episode of THEM opens on a flashback that serves to demonstrate how businesses used predatory lending schemes to extort Black homebuyers. When the Emorys first arrive at their new Los Angeles home, located in all-white area of East Compton, Lucky is dismayed to learn that the sale agreement contains a restrictive covenant barring the sale or rental of the home to “any persons whose blood is not entirely that of the Caucasian race,” specifically noting that “no persons of Negro blood or heritage will occupy the premises.” Even if there weren’t restrictive covenants, for many Blacks, all-white communities were unattractive for fear of confronting prejudice and discrimination and racist behavior.” “They faced quite a bit of resistance from whites in terms of integrating neighborhoods, labor markets and the like. “The idea was that there would be less prejudice and discrimination in California relative to what they were experiencing in the South. As the Black population in Los Angeles grew from 63,700 in 1940 to 763,000 in 1970, Camille Zubrinsky Charles, a professor of sociology and Africana studies at the University of Pennsylvania, says that white residents relied on prejudicial tactics like restrictive covenants to keep Black people out of communities.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |