Fair Housing
Under the federal Fair Housing Act, blockbusting is defined as:
ARefusing to sell to buyers of a particular race
BInducing property owners to sell by making representations about the entry of protected class members into the neighborhood✓ Correct
CRestricting loan availability to certain neighborhoods
DSetting different rental terms for different groups
Explanation
Blockbusting (panic selling) is the illegal practice of inducing owners to sell their homes by making representations about the entry of members of a protected class into the neighborhood, with the purpose of profiting from the sales.
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Key Terms to Know
Fair Housing Act
Federal law prohibiting discrimination in the sale, rental, or financing of housing based on race, color, national origin, religion, sex, disability, and familial status.
BlockbustingAn illegal practice of inducing homeowners to sell by claiming that the entry of minority groups will lower property values.
SteeringAn illegal practice where a real estate agent directs buyers toward or away from certain neighborhoods based on the buyer's race, religion, national origin, or other protected characteristics.
RedliningAn illegal practice where lenders or insurers deny services or charge higher rates in certain neighborhoods based on the racial or ethnic composition of those areas.
Math Concepts
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