LONGLISTED FOR THE 2019 NATIONAL BOOK AWARD By the late 1960s and early 1970s, reeling from a wave of urban uprisings, politicians finally worked to end the practice of redlining. Reasoning that the turbulence could be calmed by turning Black city-dwellers into homeowners, they passed the Housing and Urban Development Act of 1968, and set about establishing policies to induce mortgage lenders and the real estate industry to treat Black homebuyers equally. The disaster that ensued revealed that racist exclusion had not been ...
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LONGLISTED FOR THE 2019 NATIONAL BOOK AWARD By the late 1960s and early 1970s, reeling from a wave of urban uprisings, politicians finally worked to end the practice of redlining. Reasoning that the turbulence could be calmed by turning Black city-dwellers into homeowners, they passed the Housing and Urban Development Act of 1968, and set about establishing policies to induce mortgage lenders and the real estate industry to treat Black homebuyers equally. The disaster that ensued revealed that racist exclusion had not been eradicated, but rather transmuted into a new phenomenon of predatory inclusion. Race for Profit uncovers how exploitative real estate practices continued well after housing discrimination was banned. The same racist structures and individuals remained intact after redlining's end, and close relationships between regulators and the industry created incentives to ignore improprieties. Meanwhile, new policies meant to encourage low-income homeownership created new methods to exploit Black homeowners. The federal government guaranteed urban mortgages in an attempt to overcome resistance to lending to Black buyers - as if unprofitability, rather than racism, was the cause of housing segregation. Bankers, investors, and real estate agents took advantage of the perverse incentives, targeting the Black women most likely to fail to keep up their home payments and slip into foreclosure, multiplying their profits. As a result, by the end of the 1970s, the nation's first programs to encourage Black homeownership ended with tens of thousands of foreclosures in Black communities across the country. The push to uplift Black homeownership had descended into a goldmine for realtors and mortgage lenders, and a ready-made cudgel for the champions of deregulation to wield against government intervention of any kind. Narrating the story of a sea-change in housing policy and its dire impact on African Americans, Race for Profit reveals how the urban core was transformed into a new frontier of cynical extraction.
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Edition:
With a New Foreword by the Author edition
Publisher:
University of North Carolina Press
Published:
2021
Language:
English
Alibris ID:
17444095366
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Seller's Description:
Fine. Trade paperback (US). Glued binding. 368 p. Contains: Illustrations. Justice, Power, and Politics. In Stock. 100% Money Back Guarantee. Brand New, Perfect Condition, allow 4-14 business days for standard shipping. To Alaska, Hawaii, U.S. protectorate, P.O. box, and APO/FPO addresses allow 4-28 business days for Standard shipping. No expedited shipping. All orders placed with expedited shipping will be cancelled. Over 3, 000, 000 happy customers.
Edition:
With a New Foreword by the Author edition
Publisher:
University of North Carolina Press
Published:
2021
Language:
English
Alibris ID:
18072668505
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Seller's Description:
Good-Bumped and creased book with tears to the extremities, but not affecting the text block, may have remainder mark or previous owner's name-GOOD PAPERBACK Standard-sized.
Edition:
With a New Foreword by the Author edition
Publisher:
University of North Carolina Press
Published:
2021
Language:
English
Alibris ID:
18073969009
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Fair. Acceptable-This is a significantly damaged book. It should be considered a reading copy only. Please order this book only if you are interested in the content and not the condition. May be ex-library. PAPERBACK Standard-sized.
Edition:
With a New Foreword by the Author edition
Publisher:
University of North Carolina Press
Published:
2021
Language:
English
Alibris ID:
17591819305
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Seller's Description:
New. Brand New. Ships from an indie bookstore in NYC. Trade paperback (US). Glued binding. 368 p. Contains: Illustrations. Justice, Power, and Politics.
Edition:
With a New Foreword by the Author edition
Publisher:
University of North Carolina Press
Published:
2019
Language:
English
Alibris ID:
17119526295
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Good. Book Clean, bright wraps are well-bound. Previous owner's name scribbled out on verso of front panel, marginal notes in first 50pp. otherwise clean, sharp pages.
