The HOLC Maps: How Race and Poverty Influenced Real Estate Professionals’ Evaluation of Lending Risk in the 1930s
分析了1930年代HOLC地图中黑人社区普遍获得最低贷款评级的原因，发现种族偏见最多只能解释4%到20%的评级差异，且联邦住房管理局的评估策略较少依赖这些地图。
During the late 1930s, the Home Owners’ Loan Corporation (HOLC) developed a series of area descriptions with color-coded maps of cities that summarized mortgage lending risk. We analyze the maps to explain the oft-noted fact that black neighborhoods overwhelmingly received the lowest rating. Our results suggest that racial bias in the construction of the HOLC maps can explain at most 4 to 20 percent of the observed concentration of black households in the lowest-rated zones. We also provide evidence that the Federal Housing Administration had its own mapping strategies when evaluating mortgages and relied relatively little on the HOLC maps.