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
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 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 is "red?"
The color used to mark neighborhoods they thought were risky for loans
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 what kind of areas