Post-Fair-Housing-Act, white flight and developer-driven fear replaced legal segregation.

Evidence

However, with explicit discrimination prohibited, another insidious factor remained: white preferences and fears, stoked by realtors and developers who wanted to drive out white homeowners and buy up their properties. When black families moved in, developers warned white families their property values would fall—and then, when they left and sold their homes at a loss, they did. — Dorothy A. Brown, The Whiteness of Wealth, 209

Categorization

• XREF: Self-fulfilling fear-of-decline echoes the drought-of-scarecrow logic in the Milgrom law-merchant material: beliefs coordinated into self-confirming equilibria.