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Race & Real Estate

Friday, April 03, 2009

In 1957 Chicago lawyer Mark Satter uncovered a citywide scheme in which African Americans were sold overpriced homes at high interest rates. His daughter, Beryl Slatter is a history professor at Rutgers and argues the phenomenon her father discovered drove many black neighborhoods into slums. Her book is Family Properties.


Comments

  • [1] Stephanie Stein from Brooklyn April 03, 2009 - 12:17PM

    In the fifties, my white Jewish parents moved from Brooklyn to Cambria Heights (Queens) NY where red-lining was going on, and they were warned not to buy in Cambria Heights because blacks were moving in.

    My parents bought a house there anyway, and placed a sign in our living room window that read:

    This house is not for sale. We believe in integration.

    Whites moved out fairly quickly, to communities in Nassau County.

    My parents lived in Cambria Heights for the rest of their lives.


  • [2] Gary from Newark April 03, 2009 - 12:22PM

    It sounds like the real estate investors were

    taking advantage of government and instituional polices. They were in essence providing (seller) financing which the banks would not. It's not illegal to do so. As for whom these house belong to, that varies by state. In Texas, the bank (Lender) can foreclose in a month, unlike NY where the process can take over a year.


  • [3] Gary from Newark April 03, 2009 - 12:24PM

    Leonard why don't you have her define the origin of the term " red lining".


  • [4] hjs from 11211 April 03, 2009 - 12:27PM

    is it to far fetched to ask if oil, cars, selling the suburbs, building a middle class (propaganda for the cold war) is also part whites leaving our cities in the 50's


  • [5] James Gathings from New York April 03, 2009 - 12:30PM

    This segment of today's show is what angers me the most about today's economic crisis. Housing prices don't just go up and up and up. If a black family moves in the price of property decreases, thus ruining the rationale that caused today's economic crisis. And to think that these financial titans are revered! Have they read a history book? Argh!!!


  • [6] the truth from Atlanta/New York April 03, 2009 - 12:30PM

    Good explanantion Ms. Slatter. I agree with your statements thus far.


  • [7] the truth from Atlanta/New York April 03, 2009 - 12:33PM

    Born into 1060's Brooklyn I was old enough to see my grandmother purchase one of these over priced brownstones, however, she kept her property immaculate and in good repair til the day she died, my mother lives their now and when she passes (God forbid) not soon, I will inherit.

    The jewish family next door did NOT vacate when my grandmother purchased the property.


  • [8] the truth from Atlanta/New York April 03, 2009 - 12:37PM

    Correction: 1960's

    Funny how white people didn't know this practice was going on, when all Black people surely did. Not sure I believe that.


  • [9] Mark from NJ April 03, 2009 - 12:38PM

    I am astonished, and humbled, by the apparent lack of bitterness in Ms. Slatter's recounting of this long tale of bigotry, exploitation and greed, which touched her family personally. Perhaps it's the historian's professional detachment, or the fact that she is the yougest in her family, but remarkable nonetheless.


  • [10] the truth from Atlanta/New York April 03, 2009 - 12:38PM

    Good job Beryl.


  • [11] peter wetherbee from ithaca ny April 03, 2009 - 12:58PM

    nelson george is so cool! questions:

    1. what's important that we should know about these days in music?

    2. is there a new equivalent to frankie crocker?


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