Do you think the Occupy Wall Street movement will have any impact on the housing market?
No. (64%, 99 Votes)
Yes! (19%, 30 Votes)
Maybe if it were better organized. (17%, 26 Votes)
Total Voters: 155
The right to fair housing for all in America is a relatively new development in our nation’s history.
Until the late 1950s, the code of ethics for the national real estate trade union insisted that real estate agents ought not advertise or sell homes in white neighborhoods to individuals of any other “race or nationality,” lest they compromise property values and diminish the standard of living.
Federal Housing Administration (FHA) underwriting guidelines mandated institutional redliningA lender’s refusal to provide mortgage financing to certain communities, often as a result of racial and economic discrimination. practices, directing underwriters to ensure properties were occupied by members of the same racial and social classes in order to maintain neighborhood stability.
It was not until the late 1960s, at the apex of the Civil Rights Movement, that these discriminatory practices in the public and private housing sectors were fully addressed and eliminated. Born from the successes of America’s most powerful and significant social movement, government protected rights to fair housing were canonized in the Federal Fair Housing ActA federal law which provides protection specifically against discriminatory actions related to dwellings. (FFHA), the Equal Credit Opportunity Act (ECOA) and the Community Reinvestment Act, to name a few.
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