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More Jargon:

Discussion in 'Buying Overseas Property' started by keath, Nov 27, 2006.

  1. keath

    keath New Member

    Handyman's special: Property advertising term for to a home that requires major renovation and is selling at a relatively low price.

    Concentric circle hypothesis:The concept that transport is the main force in a communities growth, and that highest land values are where transport is the best.

    Blockbusting: The illegal practice of inducing an abnormally high turnover or panic selling of homes at prices below market value through exploiting the prejudices of home owners in neighborhoods where the ethnic make-up is or appears to be on the verge of changing.
     
  2. timmy

    timmy New Member

    could you throw me an example of blockbusting please?
     
  3. JMBroad

    JMBroad New Member

    Archie Bunker?
     
  4. oregon woodsmoke

    oregon woodsmoke New Member

    Block busting: This practice no longer works in the USA, but in the 1950's, a speculator would buy a house in an all white neighborhood and move a black family in. The neighbors would start selling, and a second black family would be moved in and the neighbors would panic and start selling for very low prices, trying to get out before the area turned into a ghetto.

    The speculator would buy up everything in th neighborhood, move his black families into his next target, and then he'd re-sell the properties for full price.

    Maybe moving a family of drug dealers might work now, but it is more likely that the neighbors would band together and drive the drug dealers out. Or the neighborhood would slide downhill so fast, it would never recover. I don't think anyone is trying block busting any more. Not to mention, it is very illegal in the USA.
     
  5. jessicatam

    jessicatam New Member

    I'd never heard of Blockbusting before - I wonder if it would work in the UK. Not that I know any illegal immigrants to try it with :) I don't understand why it's illegal though - unless it's considered a way of inciting racial hatred?
     
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