Housing Basics
What is the loan people use to buy a house?
Mortage
What is "DeJure Segregation?"
Segregation created by laws or government rules.
What are restrictive or racial covenants?
The rules in property deeds that stopped homes from being sold to certain races.
What is a wealth gap?
Redlining helped create a big difference in wealth between Black and white Americans
What is default?
When someone stops paying their home loan
What is "DeFacto Segregation?"
Segregation created by society, not by law
What is the Federal Housing Act?
A law passed in 1968 made housing discrimination illegal
How did redlined neighborhoods get affected?
Because of fewer resources and opportunities, health problems and higher crime rates often increased in redlined neighborhoods.
What is the FHA (Federal Housing Administration)
A government agency that gives mortgage insurance to lenders
What is "segregation by design?"
Segregation that was planned and created by government policies
What is redlining?
A practice denied home loans to people based on the neighborhood they wanted to live in.
What are communtiy resources?
Libraries, schools, and medical centers, were often limited in redlined communities.
What is renting?
When you pay money each month to live in a home you don't own.
What is "white flight?"
When white residents move away from cities when more minority residents move in
What did red represent in the redlined maps?
Neighborhoods they thought were risky for loans
What fewer opportunities did red marked neighborhoods have?
Redlined neighborhoods often had fewer parks, beaches, lakes, and pools. What are these called
What is a landlord?
A person who owns the home that a tenant rents.
What is blockbusting?
The practice of scaring homeowners so they sell their homes cheaply because people of another race are moving in
What are high-risk neighborhoods?
In redlining maps, neighborhoods with mostly Black, Latino, and Asian residents were labeled as high-risk neighborhoods
What did the National City Bank get accused of?
In 2023, this bank paid $31 million after being accused of avoiding loans to minority communities