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Race for Profit: How Banks and the Real Estate Industry Undermined Black Homeownership

4.24  ·  Rating details ·  51 ratings  ·  10 reviews
By the late 1960s and early 1970s, reeling from a wave of urban uprisings, politicians finally worked to end the practice of redlining. Reasoning that the turbulence could be calmed by turning Black city-dwellers into homeowners, they passed the Housing and Urban Development Act of 1968, and set about establishing policies to induce mortgage lenders and the real estate ...more
Hardcover, 368 pages
Published October 21st 2019 by University of North Carolina Press
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D.  St. Germain
Oct 10, 2019 rated it really liked it
The private-public partnership has been a model long touted by politicians as a panacea for solving social problems without the bloat of government programs. But in Race for Profit: How Banks and the Real Estate Industry Undermined Black Homeownership, Keeanga-Yamahtta Taylor shows us how this model repeatedly failed black homeowners. She illuminated the low-income housing programs to encourage home ownership that enabled a new class of real estate professionals to profit off substandard ...more
Matthew Hall
Nov 06, 2019 rated it it was amazing
As much as everybody went nuts for Matthew Desmond's Evicted, and without trying to directly compare the two, this book might perhaps deserve as much or more cultural fanfare as Desmond's book received. Taking as a starting point the vaunted housing initiatives set in place under Johnson's administration, this book details the institutional and administrative failings that beset these programs, as well as the way in which the "public/private partnerships" so touted by The Great Society became ...more
Katie/Doing Dewey
Dec 03, 2019 rated it really liked it
Summary: This was a fascinating, infuriating, and important read, but it could also be dry and repetitive at times.

I'm so glad I got around to doing an end of month round-up and realized I'd not yet reviewed this book, because I'm excited to tell you about it. Like many of the National Book Award nominees, this book deals with a heavier topic. It covers the many ways that government housing subsidies in the 1960s and 1970s disadvantaged black families. Several major problems with the program
...more
BMR, LCSW
Nov 01, 2019 rated it it was amazing
There is so much more to the history of Blacks and homeownership in the US than redlining and restrictive covenants. As with most policies in the US, centuries of exclusion are very difficult to recover from for the most marginalized and minoritized populations.

Mitt's dad George Romney plays a very large role in the book, during his time as the head man at HUD.

Recommended for history geeks, policy wonks, and housing scholars. Natives of Baltimore, Detroit, St. Louis, and Chicago will probably
...more
Eli
Jan 16, 2020 added it
Race for Profit is a deeply researched, impeccably argued study of the conception, implementation, and consequences of HUD-FHA's low income housing programs in the late 60s and early 70s. Previously, redlining by the government and the financial sector meant that Black people and Black neighborhoods were--legally--perceived as risky investments due to race. Thus Blacks were overwhelmingly excluded from the rising postwar prosperity enjoyed by whites, who were extended generous FHA loans to buy ...more
Never Without a Book
Oct 17, 2019 rated it really liked it
Keeanga-Yamahtta Taylor novel Race for Profit: How Banks and the Real Estate Industry Undermined Black Homeownership, is another example of how hard it is to be Black. The stunts the government has pulled in the housing industry….ugh! I don’t even know where to begin here.

Throughout this book Yamahtta Taylor highlights on the low-income housing programs (HUD) that encouraged “Black homeownership” but, ultimately was a set up from the start. The purpose of the Federal Housing Administration is
...more
Mary Gearing
Nov 19, 2019 rated it really liked it
Shelves: 2019, non-fiction
4.5 stars - it took me a little while to get into the book but it picked up after the first chapter.

Taylor is very thorough and persuasive in laying out her argument of "predatory inclusion" - the end of redlining certainly didn't mean the end of discrimination. It was hard to read these horror stories of people conned into buying houses in terrible condition and to learn how these public-private partnerships benefited banks/investors instead of home buyers. The end of the book is a gut punch -
...more
Doris Raines
Nov 15, 2019 rated it did not like it
REALLY WHAT COLOR OF ONE SKIN ———HAS TO DO WITH A BLACK FEMALE PAYING RENT I RATE THIS BOOK 0–F FOR FAILURE MONEY IS STILL GREEN. REALLY WHAT A CUPID BOOK. ...more
Becky
Dec 02, 2019 rated it really liked it
I appreciated the book's narrow focus on (roughly) the mid 1960s to the mid 1970s. A strong dismantling of the idea that inclusion is equivalent to equity.
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Keeanga-Yamahtta Taylor writes on Black politics, social movements, and racial inequality in the United States. Her articles have been published in Souls: A Critical Journal of Black Politics, Culture and Society, Jacobin, New Politics, the Guardian, In These Times, Black Agenda Report, Ms., International Socialist Review, Al Jazeera America, and other publications. Taylor is assistant professor ...more