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Restrictive covenants have greatly paralyzed major sectors of economy. Among the most affected is the housing market. The impact have reached extend where the value of property have gone down. Since some landlords are discouraged from owning a house, it means no competitive bid for housing units.
As the many people continue abandoning the buildings, the population will decrease there attracting other tenants who want to engage in secretive businesses like drug dealing business. Other illegal activities will be take place in order to cover the void left by the restricted people.
In areas where there are restrictive covenants, the racial competition takes a critical move each race wants to own a section of the city. Like in North Carolina in 1890s, the impacts were far much serious in Charlotte where it resulted in a de facto segregation. The result was suburbs that came up to cater for poor whites and African like race.
Many restrictive covenants prevented African Americans from owning a house and if they tried to do so, they were priced higher and frustrated financially so that they could find such homes only in dreams. And if one purchase a property, they might be subjected to the rules therefore facing a risk of loosing the house.
Despite all the negative impact the restrictive covenant was on the blacks, the whites were the major beneficiary because they were supported by the banks and they were given mortgages to build segregation houses. Many blacks enjoyed the financial protection and estate owners association because most of these companies and organizations were owned by whites.
Such restrictive covenants have greatly ashamed the whole nation and its citizen for an image of racial citation. Some legislators have vowed to deal with the situation amicably to correct any law of such kind.
Kansas City will be affected more negatively than the benefits of its policies. When discrimination on one race happens, there will be low development in housing. Houses are built to cater only for specific group. Though they may benefit from the white tenants, it could be more even economical to eliminate racism from development.
Residence of Kansas City will not have freedom to develop anywhere therefore businesses will slow down citing racial discrimination as the stumbling block. Investors will be willing to invest in a place where people don't discriminate race.
Residents vote according to their neighborhood which is a serious challenge to the democracy. Though there is a law governing political activities, most of them still vote racially. The behavior and the culture of Kansas expected to have a great negative impact on its economy and stability. Most its residents will consider finding a place better without racial segregation therefore ruining the city's general development.
It could be difficult to consolidate various activities that need to be done together by the whites and the blacks. Such activities include schools, sporting events hosting social and economic events among others.
Considering all factors of economy, such development is negative and not considerate to the economy. It could make much positive economic growth if such policies are done away with.