ERIC Number: ED055144
Record Type: RIE
Publication Date: 1971-Aug
Reference Count: 0
The Delivery System of Black Private Housing: Speculation in Baltimore in the 1960's.
Keely, Charles B.
The involvement of speculative activities in real estate transfers in central cities where racial composition is changing has been the center of controversy in a number of cities. This paper is a statistical description of the scope of the operations and some of the effects as measured by demographic data. The site of the study was Baltimore, Maryland during the 1960's. Data from the census, the city Department of Planning and school sources, were used for the demographic descriptions. Information on real estate transfers was drawn from state corporation data, tax information, and deed recordings. One of these 16 census tracts was used as an illustrative case of the scope of the speculator activity and its effects. Speculator activity drove up the price of housing considerably: to $1.5 million dollars mark up over nine years or a 58 percent mark up. Over a 20-year mortgage life, this amounts to a minimum of $7,200 overcharge for these properties as compared to one bought for fair market value. Hypotheses about the condition of the housing and the financial status of the black home buyer as explanations of the mark ups are rejected on the basis of comparative analysis. The effects of selling practices discussed on density, city services, schools, and family life are briefly discussed. (Author)
Publication Type: N/A
Education Level: N/A
Authoring Institution: N/A
Identifiers: Maryland; Maryland (Baltimore)
Note: Paper presented at the annual meeting of the American Sociological Association, Denver, Colo., August 1971