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An interracial couple had their home appraised.
The appraisal came in extremely low.
They tried again but this time had the only the white husband present & removed all pictures of the black wife & their interracial child.
The appraisal increased 40% https://www.nytimes.com/2020/08/25/realestate/blacks-minorities-appraisals-discrimination.html
The appraisal came in extremely low.
They tried again but this time had the only the white husband present & removed all pictures of the black wife & their interracial child.
The appraisal increased 40% https://www.nytimes.com/2020/08/25/realestate/blacks-minorities-appraisals-discrimination.html
Imagine how many BILLIONS of dollars of wealth was stolen from black people over the years due to racist low appraisals?
The value of Stephen Richmond’s home in a Hartford, Conn., suburb jumped after he removed family photos and movies posters, and had a white neighbor stand in for him during a second appraisal.
. @RealDLHughley’s bank flagged his appraisal because it came back at the same price he bought it for 3 years earlier.
“They were like, this has to be some kind of mistake because in order for your house to have come in this low; it would have to be in some level of disrepair.”
“They were like, this has to be some kind of mistake because in order for your house to have come in this low; it would have to be in some level of disrepair.”
The House Financial Services Subcommittee report found that a home in a majority Black neighborhood is likely to be valued for 23% less than a near-identical home in a majority-white neighborhood; it also determined this devaluation costs Black homeowners $156 billion in losses.
