Chap 26: The Affluent Society Flashcards
Home Owners’s Loan Corporation (HOLC)
A piece of the New Deal opening up home ownership to millions more Americans, boom of housing construction, home ownership, and suburbanization
- began purchasing and refinancing existing mortages at risk of default leading to residential stability, lower monthly mortgage payments, and accrue wealth
- led to amortized mortagage allowing borrowers to pay back interest and principal regularly over 15 years instead of the standard 5 year mortgage carrying large payments at end of ocntract
Federal Housing Administration (FHA)
A piece of the New Deal increased access to home ownership by insuring mortgages and protecting lenders from financial loss , fueling home ownership and rise of suburbs
GI Bill
Provided a system of unemploment benefits, free education including stipends, and measures to assist in buying homes but excluded many creating a postwar economic boom
- Us made this to smooth the re-entry of veterans into economy and compensation for ending of wartime spending
- Outlawing racial discrimination in mortgage lending was NOT a component of this
- systemically shut out African Americans and racial minorities
Levittown
Prototope of the new suburbs on Long Island
- William Levitt cuilt this, offering afforadable suburban housing to verterans and familities
- only allowed whites to purcchase homes
Redlining
Prevented non-white people from access to housing benefits, systematically downgrading non-white
neighborhoods
Housing discrimination against racial or ethnic groups that produces residential segregation
Brown v Board of Education
**Struck down “separate but equal,” **civil rights victory (declaring state-sponsored segregation in public schools unconstitutional) but private segregation academics opened to maintain segregated schools
- culmination of NAACP strategy since 1930’s, consolidation of 5 cases from across the country
Emmett Till
The kidnapping, torture, and murder of this person in 1955 highlighted depths of racism and dangers posed by racial terrorism, inspiring further resistance
Rosa Parks
Caused the Montogomery Bus Boycott by refusing to surrender seat leading to being arrested
Montgomery Bus Boycott
Spurred desegregation of buses through a 1956 Supreme Court decision launching Martin Luther King Jr.’s activist career
- Montgomery Improvement Association created to coordinate organized, sustained boycott crushing segregation in public transportation
Martin Luther King Jr.
Founded the Southern Christian Leadership Conference (SCLC), a Baptist minister and leader of MIA
Career was launched through the Montgomery Bus Boycott
