Sunday, June 25, 2017


Or how to use fear and prejudice to make a profit;

Ran across the term BLOCKBUSTER today under the subject of housing segregation in the Los Angeles area in the forties thru the sixties.

Realtors would target a block or part of a neighborhood buy a piece of property and then resell or rent to a minority family. Often African American. Then wait for prejudice to take its course; make offers to buy at the lowest price possible. Then turn around and resell the property minority families looking for a piece of the American Dream. At a much higher price of course.

Of course this couldn't work in neighborhoods that had restrictive covenants in the purchase contracts. But it did work often enough to make the practice very, very profitable.

Ah, good old American Free Enterprise. Gotta love it. NOT.

No comments: