Newly available in paperback, Keeanga-Yamahtta Taylor’s Race for Profit: How Banks and the Real Estate Industry Undermined Black Homeownership uncovers how exploitative real estate practices continued well after housing discrimination was banned. After redlining was formally prohibited the same racist structures and individual gatekeepers remained in place, 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 push to uplift Black homeownership 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.
Keeanga-Yamahtta Taylor and Henry-Louis Taylor, Jr. will discuss the story of this sea-change in housing policy, its dire impact on African Americans, how the urban core was transformed into a new frontier of cynical extraction, and that transformation’s enduring legacy.
[Originally published on April 26, 2021 via Haymarket Books]