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Unformatted text preview: 4. At one point, there were approximately 50,000 people per square mile V. Housing and the American Dream A. Zoning ordinances 1. Block by block segregation of races 2. Outlawed in 1917 B. Restrictive Covenants 1. Written agreement between buyer and seller saying not to rent/sell to certain racial or religious groups 2. Outlawed in 1948, but gotten around by the Realtor's Code of Ethics 3. In 1962, only 2% of home mortgage went to Blacks a. Civil Rights Act b. Fair Housing Laws C. Realtor's Codes 1. Codes that excluded blacks and other groups from owning land in certain areas 2. Ex: Never be instrumental when showing a house/land in introducing any race or ethnic groups into a neighborhood if they are not already there D. Financial Institutions Loan Procedures 1. Blacks had a higher interest rate 2. Some banks would not loan to African Americans E. Home ownership is the principal means of capital accumulation for low and middle income families in the 20th century 1. Blacks being restricted from owning homes because of their race...
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This note was uploaded on 02/20/2008 for the course AM ST 100 taught by Professor Selzer during the Spring '08 term at Pennsylvania State University, University Park.
- Spring '08