Part family story and part urban history, a landmark investigation of segregation and urban decay in Chicago -- and cities across the nation
The "promised land" for thousands of Southern blacks, postwar Chicago quickly became the most segregated city in the North, the site of the nation's worst ghettos and the target of Martin Luther King Jr.'s first campaign beyond the South. In this powerful book, Beryl Satter identifies the true causes of the city's black slums and the ruin of urban neighborhoods throughout the country: not, as some have argued, black pathology, the culture of poverty, or white flight, but a widespread and institutionalized system of legal and financial exploitation.
In Satter's riveting account of a city in crisis, unscrupulous lawyers, slumlords, and speculators are pitched against religious reformers, community organizers, and an impassioned attorney who launched a crusade against the profiteers—the author's father, Mark J. Satter. At the heart of the struggle stand the black migrants who, having left the South with its legacy of sharecropping, suddenly find themselves caught in a new kind of debt peonage. Satter shows the interlocking forces at work in their oppression: the discriminatory practices of the banking industry; the federal policies that created the country's shameful "dual housing market"; the economic anxieties that fueled white violence; and the tempting profits to be made by preying on the city's most vulnerable population.
Family Properties: Race, Real Estate, and the Exploitation of Black Urban America is a monumental work of history, this tale of racism and real estate, politics and finance, will forever change our understanding of the forces that transformed urban America.
"Gripping . . . This painstaking portrayal of the human costs of financial racism is the most important book yet written on the black freedom struggle in the urban North."—David Garrow, The Washington Post
In the early 1950s, Mark Satter opened his law practice in the Chicago suburb of Lawndale, but his life's work really began in 1957, the day a black couple, Albert and Sallie Bolton, walked through his doors needing a stay on an eviction from a home they had just purchased. Satter uncovered a citywide scheme, in which landlords sold African-Americans overpriced homes, keeping the titles until black homeowners paid them off, while charging excessive interest rates to insure they never could. Called "contract selling," the practice cost thousands of migrating blacks their livelihoods. Mark Satter died of a heart condition eight years after the Boltons crossed his threshold, but nearly 50 years later, his daughter, Beryl, a history professor at Rutgers, picked up where he left off. Setting out to prove that the decline of black neighborhoods into slums had nothing to do with the absence of African-American resources and everything to do with subjugation and greed, Satter draws on her father's records to piece together a thoughtful and very personal account of the exploitation that kept blacks segregated and impoverished.