Perhaps one of the most shocking aspects of the history of New York City urban planning is the institutionalized segregation that has been the driving force of community development. New York City is known as one of the most ethnically diverse cities in the world, often being described as a melting pot of residents of numerous nationalities and socioeconomic classes. However, Angotti stresses the fact that real estate in New York City is something of a “racial apartheid” that perpetuates economic and racial inequality (Angotti, 50).

Historically, New York City real estate has been guided by a questionable moral compass. Ethical issues pertaining to real estate have not simply been by chance, but have been the result of deeply engrained values that promote monetary gain while disregarding the concerns of those affected. Angotti discusses the history of displacement in New York, comparing it to displacement of the Native Americans during the conquest of the New World. In both of these cases, the conquerors (in this case, those in high positions in the real estate market) have promised benefits, but have only caused the hardship of dislocation. Through the process of gentrification, many have lost their homes because of the market’s desire to change the value of the land for monetary gain.

Gentrification is not the only way in which the real estate market has perpetuated social inequality. Contrary to popular belief, Angotti states that “This is one of the most segregated and unequal metropolises in the world, the fact related to its role as a global city.” (Angotti, 48). The common trend of segregation of ethnic groups by neighborhood is not only attributed to residents’ personal preference, but also to real estate practices such as “blockbusting” and “racial steering”. I am personally shocked that these practices are widely used, especially in a city like New York that is known as progressive and culturally diverse. However, the fact that real estate developers are driven by monetary gain rather than social justice is- although appalling- not very surprising when thinking about the importance of financial success in a city like New York.