Redlining in Chicago Communities - The Intersection of Race and Racism
CREW Chicago and Chicago African-Americans in Commercial Real Estate (Chi-AACRE), in their first joint collaboration, presented a webinar on August 27 on the impact of historical redlining on Chicago communities.
The keynote speaker was Daniel Aaronson, the Vice President and Director of Microeconomic Research at The Federal Reserve Bank of Chicago. Mr. Aaronson spoke about his research related to redlining, a government-sanctioned form of lending discrimination that precluded Black people from obtaining mortgage loans. Collette English Dixon, the Executive Director of the Marshall Bennett Institute of Real Estate at Roosevelt University, moderated the Q&A portion of the presentation.
Over 200 registered attendees heard about the long-term impact of redlining – a practice that grew out of an attempt to nationalize appraisals relying heavily on demographic and racial information in the 1930s. Aaronson’s research estimated the causal effects of the maps on racial segregation, home ownership, house values, rents, and credit scores, and compared cities on either side of a population cutoff that determined whether maps were drawn for identification. While the practice of redlining was abolished by the Fair Housing Act of 1968, redlining created a cycle of disinvestment in African-American and minority neighborhoods that peaked in the 1970s, and continues to have lasting effects today.
Below are links to the materials that were used during this events presenation.
How Redlinig's Racist Effects Lasted for Decades - The New York Times (08.24.2017) >>
The Effects of the 1930s HOLC “Redlining” Maps - AHM >>
How Decades of Racist Housing Policy Left Neighborhoods Sweltering - The New York Times (08-24-2020) >>
Link to the Zoom Recording >> Password: $n#kR9?$