Black Baltimore-area neighborhoods face racial bias in home appraisals, report finds
A Black family in Seattle got their home appraised: $670,000.
— Mike Baker (@ByMikeBaker) November 15, 2022
3 weeks later, they took down their family photos and African art. A white neighbor stood in for the family when a new appraiser arrived.
New value: $929,000.https://t.co/ogYlmNYrLW
Home appraisals from 2013 to 2021 show a persistent, widespread practice in the home appraisal industry to give higher values to homes when the occupants are white, and devalue them if the owners are people of color, research shows.https://t.co/Ih9nGtJ2sk
— The New York Times (@nytimes) November 2, 2022
"Black homeowners with incomes between $75k-$100k had higher interest rates than white homeowners with $30k or less in household income. Across most income categories, white homeowners with primary mortgages had lower interest rates than the highest-earning Black homeowners" https://t.co/PMszRZluhX
— A Shady Dame From Seville (@SorayaMcDonald) August 25, 2022
Sad! 