Race for Profit
Race for Profit

Author: Keeanga-Yamahtta Taylor

Publisher: UNC Press Books

Published: 2019-09-03

Total Pages: 364

ISBN-13: 1469653672

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LONGLISTED FOR THE 2019 NATIONAL BOOK AWARD FINALIST, 2020 PULITZER PRIZE IN HISTORY 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.

The Color of Law: A Forgotten History of How Our Government Segregated America
The Color of Law: A Forgotten History of How Our Government Segregated America

Author: Richard Rothstein

Publisher: Liveright Publishing

Published: 2017-05-02

Total Pages: 243

ISBN-13: 1631492861

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New York Times Bestseller • Notable Book of the Year • Editors' Choice Selection One of Bill Gates’ “Amazing Books” of the Year One of Publishers Weekly’s 10 Best Books of the Year Longlisted for the National Book Award for Nonfiction An NPR Best Book of the Year Winner of the Hillman Prize for Nonfiction Gold Winner • California Book Award (Nonfiction) Finalist • Los Angeles Times Book Prize (History) Finalist • Brooklyn Public Library Literary Prize This “powerful and disturbing history” exposes how American governments deliberately imposed racial segregation on metropolitan areas nationwide (New York Times Book Review). Widely heralded as a “masterful” (Washington Post) and “essential” (Slate) history of the modern American metropolis, Richard Rothstein’s The Color of Law offers “the most forceful argument ever published on how federal, state, and local governments gave rise to and reinforced neighborhood segregation” (William Julius Wilson). Exploding the myth of de facto segregation arising from private prejudice or the unintended consequences of economic forces, Rothstein describes how the American government systematically imposed residential segregation: with undisguised racial zoning; public housing that purposefully segregated previously mixed communities; subsidies for builders to create whites-only suburbs; tax exemptions for institutions that enforced segregation; and support for violent resistance to African Americans in white neighborhoods. A groundbreaking, “virtually indispensable” study that has already transformed our understanding of twentieth-century urban history (Chicago Daily Observer), The Color of Law forces us to face the obligation to remedy our unconstitutional past.

HUD Scandals
HUD Scandals

Author: Irving Welfeld

Publisher: Routledge

Published: 2017-07-05

Total Pages: 191

ISBN-13: 1351514741

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Mention the Department of Housing and Urban Development and the word scandal comes to mind. When it comes to recent history, the association is quite accurate; in 1989-90 congressional panels were investigating -abuses, favoritism, and mismanagement- at HUD; in 1954 HUD's predecessor, the Federal Housing Administration, was targeted by the FBI for involvement in fraudulent home-improvement schemes; in the 1970s HUD was scrutinized for lax lending standards, blatant overappraisals, and shoddy housing. In this ground-breaking volume, Irving Welfeld, a senior analyst with HUD, describes and explains these sensational episodes as well as a series of hidden blunders that have cost taxpayers billions of dollars. In this thorough, firsthand account, Welfeld provides not only soundly documented history, but analyses of events that arrive at different interpretations than Congress reached in its investigations. Throughout, his readings ask hard and probing questions: Where were the overseers--the media, Congress, the General Accounting Office, the Office of Management and Budget? To what extent is poor management the root cause of HUD's failures? Will tighter regulation help in keeping out corruption? After his comprehensive survey of the scene, Welfeld goes the final step and offers solutions: a set of programs that would minimize secrecy on the part of federal administrators and the temptation to abuse the public trust. Most importantly, the programs outlined here will enable HUD to more effectively fulfill its mission to see that there is decent affordable housing for all Americans. HUD Scandals will be of interest to scholars of public administration, political scientists, and analysts of housing issues.

At the Boundaries of Homeownership
At the Boundaries of Homeownership

Author: Chloe N. Thurston

Publisher: Cambridge University Press

Published: 2018-05-03

Total Pages: 276

ISBN-13: 1108390145

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In the United States, homeownership is synonymous with economic security and middle-class status. It has played this role in American life for almost a century, and as a result, homeownership's centrality to Americans' economic lives has come to seem natural and inevitable. But this state of affairs did not develop spontaneously or inexorably. On the contrary, it was the product of federal government policies, established during the 1930s and developed over the course of the twentieth century. At the Boundaries of Homeownership traces how the government's role in this became submerged from public view and how several groups who were locked out of homeownership came to recognize and reveal the role of the government. Through organizing and activism, these boundary groups transformed laws and private practices governing determinations of credit-worthiness. This book describes the important policy consequences of their achievements and the implications for how we understand American statebuilding.

The Politics of Public Housing
The Politics of Public Housing

Author: Rhonda Y. Williams

Publisher: Oxford University Press

Published: 2004-09-09

Total Pages: 321

ISBN-13: 0199882762

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Black women have traditionally represented the canvas on which many debates about poverty and welfare have been drawn. For a quarter century after the publication of the notorious Moynihan report, poor black women were tarred with the same brush: "ghetto moms" or "welfare queens" living off the state, with little ambition or hope of an independent future. At the same time, the history of the civil rights movement has all too often succumbed to an idolatry that stresses the centrality of prominent leaders while overlooking those who fought daily for their survival in an often hostile urban landscape. In this collective biography, Rhonda Y. Williams takes us behind, and beyond, politically expedient labels to provide an incisive and intimate portrait of poor black women in urban America. Drawing on dozens of interviews, Williams challenges the notion that low-income housing was a resounding failure that doomed three consecutive generations of post-war Americans to entrenched poverty. Instead, she recovers a history of grass-roots activism, of political awakening, and of class mobility, all facilitated by the creation of affordable public housing. The stereotyping of black women, especially mothers, has obscured a complicated and nuanced reality too often warped by the political agendas of both the left and the right, and has prevented an accurate understanding of the successes and failures of government anti-poverty policy. At long last giving human form to a community of women who have too often been treated as faceless pawns in policy debates, Rhonda Y. Williams offers an unusually balanced and personal account of the urban war on poverty from the perspective of those who fought, and lived, it daily.