The diverse effects of racial discrimination in urban housing markets are discussed in this paper. It also outlines a number of programs and policies that would ameliorate these effects in the short run and would help eradicate racial discrimination and segregation in the long run. The paper's emphasis reflects the opinion that housing market discrimination is the linch pin that holds together the web discriminatory practices that limit the opportunities and achievement of black Americans. The paper begins with a review of the findings of economists and other social scientists on the extent of racial segregation, on its causes, and on its impact on the welfare of black and white Americans. The survey reveals that housing market discrimination imposes more numerous and larger costs on black Americans than is popularly understood and strongly supports the conclusion that the commitment to equal opportunity in housing ought to be reviewed. The second half of the paper considers a number of policies that would ameliorate the effects of racial discrimination in urban housing markets and foster its eventual eradication. In conclusion, it is noted that at the same time that there are encouraging signs that the barriers to blacks seeking housing outside the ghetto are somewhat less, many black leaders and intellectuals appear to have lost their zest for integration as a goal. (Author/AM)