Red Fire Escape (Ready, Set, Go), Meryl Meisler, March 1984

Blast from the past: I found a New York Times article from 1986 about the 70s blockbusting of Bushwick.

In a five-year period in the late 1960′s and early 70′s, the Bushwick neighborhood of Brooklyn was transformed from a neatly maintained community of wood houses into what often approached a no man’s land of abandoned buildings, empty lots, drugs and arson.

Five years is fast for such a steep decline. The article goes on to say that it was the abuse of FHA mortgage guarantees that is to blame, and that it was mostly one company that lead the wholesale flipping of Bushwick.

The key bit here is that if the Feds had not been guaranteeing mortgages (bailing out banks for taking reckless risks), blockbusting could never have happened. The FHA, in effect, financed the destruction of Bushwick and countless other communities across the country. The fires, the vacancies, all those empty lots — point your blaming fingers at the federal government for way overstretching its bounds. This world is littered with the ashes, rubble, and corpses of good intentions, and for a long time in Bushwick you could find all three.