On Wed, 16 Jan 2008, berber carpet bomb wrote:
> What I'm not sure I understand is, how did real estate people think
> they'd make money? they assumed they'd scare people into selling low
> and that they could still sell high? it seems counterintuitive, to me.
> Did it actually work -- to make them money?
Sure -- they were the brokers. They bought low from the whites, fearing prices were about to collapse, and sold high to the blacks, esp. the first wave, boosting the exclusivity of getting into a white community and demanding a price premium on the grounds that they were risking reprisals from their fellow whites for selling to blacks.
Michael