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Cook Center: WBEZ panel - How land sale contracts robbed a generation of Black homeowners
['Emily Mack']
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The sign puts it frankly: “This home at 6823 S. Aberdeen was legally stolen from black couple Mr. and Mrs. James and Lula Malone on October 30, 1963 in a widespread land sale contract scam.” The map, compiled for the study “The Plunder of Black Wealth in Chicago: New Findings on the Lasting Toll of Predatory Housing Contracts,” visually illustrates the wide scope of land sale contract transactions. As the “Plunder of Black Wealth” researchers determined, a combined total of $3.6 billion was stolen from black homeowners under land sale contracts (adjusted for inflation).