Housing In The Seventies

LONGLISTED FOR THE 2019 NATIONAL BOOK AWARD FINALIST, 2020 PULITZER PRIZE IN HISTORY 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 industry to treat Black homebuyers equally. The disaster that ensued revealed that racist exclusion had not been eradicated, but rather transmuted into a new phenomenon of predatory inclusion. Race for Profit uncovers how exploitative real estate practices continued well after housing discrimination was banned. The same racist structures and individuals remained intact after redlining's end, and close relationships between regulators and the industry created incentives to ignore improprieties. Meanwhile, new policies meant to encourage low-income homeownership created new methods to exploit Black homeowners. The federal government guaranteed urban mortgages in an attempt to overcome resistance to lending to Black buyers – as if unprofitability, rather than racism, was the cause of housing segregation. Bankers, investors, and real estate agents took advantage of the perverse incentives, targeting the Black women most likely to fail to keep up their home payments and slip into foreclosure, multiplying their profits. As a result, by the end of the 1970s, the nation's first programs to encourage Black homeownership ended with tens of thousands of foreclosures in Black communities across the country. The push to uplift Black homeownership had descended into a goldmine for realtors and mortgage lenders, and a ready-made cudgel for the champions of deregulation to wield against government intervention of any kind. Narrating the story of a sea-change in housing policy and its dire impact on African Americans, Race for Profit reveals how the urban core was transformed into a new frontier of cynical extraction.

Considering the history of workers' and socialist movements in Europe, Frontier Socialism focuses on unconventional forms of anti-capitalist thought, particularly by examining several militant-intellectuals whose legacy is of particular interest for those aiming for a radical critique of capitalism. Following on the work of Michael Löwy, Quirico & Ragona identify relationships of “elective affinity” between figures who might appear different and dissimilar, at least at first glance: the German Anarchist Gustav Landauer, the Bolshevik Alexandra Kollontai, the German communist Paul Mattick, the Italian Socialist Raniero Panzieri, the Greek-born French euro-communist Nikos Poulantzas, the German-born Swedish Social Democrat Rudolf Meidner, and the French social scientist Alain Bihr as well as two historical struggle experiences, the Spanish Republic and the Italian revolutionary group “Lotta continua”. Frontier Socialism then analyzes these thinkers' and experiences’ respective paths to socialism based on and achieved through self-organization and self-government, not to build a new tradition but to suggest a path forward for both research and political activism.