blockbust
/ˈblɑkˌbʌst/
verb
- To cause a property to lose value by encouraging homeowners of a different race or class to move in, in order to buy the property cheaply (historical real estate practice).
- The practice of blockbusting was declared illegal in the 1960s.
- Unscrupulous real estate agents would blockbust neighborhoods by spreading false rumors.
- Many families lost money when speculators tried to blockbust their community.