Blockbusting harmed Black homeowners' wealth
Black homeowners in rapidly changing neighborhoods often lost money by 1990 due to blockbusting.
Why it matters
- Blockbusting led to financial losses for Black homeowners.
- Highlights systemic racism's impact on wealth accumulation.
By the numbers
- Study period: 1950-1990.
- Method: k-medians clustering.
- Black households in rapidly changing neighborhoods often lost money or barely broke even by 1990.
The big picture
- Systemic racism in housing markets had lasting economic impacts.
- Contributed to racial wealth gaps still evident today.
What they're saying
- Some relate blockbusting to "white flight" and red-lining.
- Ongoing effects of systemic racism noted.
Caveats
- Study details such as exact financial losses are not provided.
What’s next
- Further research needed to quantify exact financial impacts.