Law Issues and Controversies

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Blockbusting, or “panic peddling,” was a process whereby real estate agents urged white property owners to sell their property at low prices (often below market value) in response to their fear that black families would move into their neighborhood. Emerging primarily out of the Great Migration, or the resettlement of African Americans from the rural South seeking employment in the industrialized North between approximately 1915 and 1970, blockbusting matured as a real estate tactic amid population growth in urban areas of major cities all over the country and the racial tension accompanying it. Other processes in the housing market aided real estate agents who operated as blockbusters. With mortgage lenders denying loans to residents of certain areas who were deemed …