In June of 1937, surveyors from the Federal government-sponsored Home Owner’s Loan Corporation (HOLC) visited Philadelphia neighborhoods to warn banks away from lending in areas with large number of African Americans. These surveyors assessed the favorable and detrimental influences.
Favorable: Good transportation.
Detrimental: Negro encroachment.
Thanks for reading,
Great research by Aaron Glantz and Emmanuel Martinez from The Center for Investigative Reporting.
For people of color, banks are shutting the door to homeownership https://www.revealnews.org/article/for-people-of-color-banks-are-shutting-the-door-to-homeownership/
Gentrification became low-income lending law’s unintended consequence: https://www.revealnews.org/article/gentrification-became-low-income-lending-laws-unintended-consequence/