Box 17, Folder 11, Document 71

Box 17, Folder 11, Document 71

THE ATLANTA INQUIRER
Saturday, October 14, 1961

o*

Just What Is Blockbusting?

AS everybody. who has ‘been in this. world more than a year or two ,
knows, words can be used to make things sipere or, they can be
used to confuse... ue ate
During the past week,, one word has been used eee confusingly |
here in Atlanta. oe :
;
The word is "Blockbusting"=- and after talking with some of our
Exienés. in the real estate business, we have decided it magne be
useful to try to clarify the term.

"First of all, ‘the word was used in such Northern cities as Phila-
-delphia to describe a "scare tactic" used by.certain realtors. A

home would be purchased in the heart of an all-white neighborhood,
for instance, and a Negro would be moved into this.home. At the
same time, word would be passed that "They're coming!", along
with the usual threats of falling property values (plus the
promises of a quick killing for home-owners who sold to Negroes
at much.more than the second-hand housing was worth)...

Negro realtists here in Atlanta, like members of their national
organization throughout America, believe in open occupancy. That

- is, they do not support segregated housing.

At the same time, local realtists point out, they have operated

-Federal Savings & Loan, Atlanta Life Insurance Company, Consolidated

on a policy of “orderly transition of neighborhoods."
Thanks to such institutions as Citizens Trust Company, Mutual =
Mortgage Investment Company and the new Atlanta Mortgage Company,

Inc., new housing, as well as used housing, has been a primary in-
terest of Negro buyers and the realtists who serve them.