REAL ESTATE: A Lesson in Economics

Even among white families eager to give lip service to racial equality, the prospect of having a Negro move into the house next door will often bring qualms about declining property values and a panicky urge to sell out fast. Last week one group of Philadelphia families fought back in a novel way against sellout fever.

Early last year a few Negroes began to move into an all-white section of Philadelphia's East Germantown. A number of other houses in the district promptly went up for sale. Real-estate brokers—many of them Negroes—moved en masse into the general area, asking white families...

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