meaning of blockbusting

blockbusting meaning in Law Dictionary

Helping people into areas outside of their ethinic back ground. Current residents will actually sell and decrease the prices of houses. A broker can buy their property for cheap and offer for greater costs.

blockbusting meaning in Business Dictionary

The unlawful and discriminatory practice of assisting ethnic or minority people into predominantly non-ethnic or minority-dominated places, and utilizing scare tactics to force present neighbor hood residents to sell their domiciles at depressed costs. Like, a genuine estate broker would inform the existing residents of a place that once this new, minority renters move around in that housing costs will tumble and crime increases, even if this is not fundamentally true. The agent will likely then purchase within the less expensive houses at reduced costs.