Congress woman calling you racist again, another nail after 3.6.

[glenn walker]

I thought this admin was done with DEI? Nobody is listening to this anymore, who cares what a congresswoman says...it is hardly the problem facing appraisers now.

You always want to deflect from facing the facts that your Socialist Democrats are the Appraisers enemy because most are White.

 

[J Grant]

Ayanna Pressley has highlighted that Black-owned homes in the U.S. are valued 18% less on average than comparable white-owned homes, a disparity rooted in systemic racial bias in the appraisal process. This devaluation results in significant wealth loss—estimated at up to $2.3 billion for Black homeowners in Boston alone—due to appraisals that undervalue properties in Black neighborhoods, even when homes are identical or nearby.

?

She needs someone ( the GSE's? An appraisal org? A bunch of us sigining a letter?)

She needs someone to tell her that if black-owned homes are valued 18% less, it is because the comps around them sold for 18% less. There are plenty of white-owned homes that sell for 18% less than other white homes as well.

 

[OSU Beavers]

She needs someone ( the GSE's? An appraisal org? A bunch of us sigining a letter?)

She needs someone to tell her that if black-owned homes are valued 18% less, it is because the comps around them sold for 18% less. There are plenty of white-owned homes that sell for 18% less than other white homes as well.

She does not really care and is only using it as an issue to whip up her base and drive donations.

 

[OSU Beavers]

Why don't the GSEs with all their data have a study to see if there's any basis in biased appraisals? The data is out there ...unless it's true.

Yes they have the data and enough computer power to track how dropping a Section 8 housing complex in a stable neighborhood will effect values. But that would reflect negatively on HUD, so they won't.

 

[Terrel L. Shields]

Duh... the average income of blacks is lower than whites, but they compared to American Indian, except top 1%ers. The Amerinds are top dog- must be casino owners. And a lot more than 18% difference...

 

[Fernando]

Duh... the average income of blacks is lower than whites, but they compared to American Indian, except top 1%ers. The Amerinds are top dog- must be casino owners. And a lot more than 18% difference...
View attachment 107159

Generational wealth surely helps White Non-Hispanics in many aspects of their lives.

 

[Dublin ohio]

Generational wealth surely helps White Non-Hispanics in many aspects of their lives.

Bull chit. Generational wealth only helps those in the upper range of income. Someone with an income of $80k is not benefiting from generational wealth. How much "wealth" will you be leaving your kids

 

[George Hatch]

I've been saying all along: just because this administration is pushing back on some of these themes doesn't mean they're going to go away. They'll be back bigger and more vocal then next time POTUS flips to the Dems.

This is no time to be slack on these issues. Be smart and CYA because they're coming for appraisers again. It's only a matter of time.

 

[Fernando]

Bull chit. Generational wealth only helps those in the upper range of income. Someone with an income of $80k is not benefiting from generational wealth. How much "wealth" will you be leaving your kids

Even in California there was a time when certain races were banned in buying properties usually in good income areas. I see CC&Rs having those illegal restrictions.
Even today most wealth is from equity of home ownership.
When Whites in the past had top choices in buying the better properties, they had an advantage over nonWhites in generational wealth.

 

[Sandra Koutsopoulos]

Devil's advocate here. If Blacks' average income is 69% of white/non-Hispanic income, then how is a Black person to qualify for the same higher-sale price house as Whites? Seems to me the issue might be the INCOME needed to buy the house, not simply cheaper houses. If it is the fault of income, appraisers bear no responsibility for that. If it is sale price, we use comparables in a neighborhood and don't research whether the house is owned/occupied by White vs non-White. We don't pick comps based on race; they're picked by comparable condition, size, close proximity. So again, we don't force certain people to live in a more- or less expensive neighborhood. It's just a red herring. And BTW, I am so very happy in my own neighborhood in CA where within a 4 block radius I have multiple neighbors of least 12 different ethnicities. It is a little circle of joy, and everybody gets along fine.

On the other hand, I HAVE lived in a city that was/is fiercely racist, which was one of the first cities in the US to have forced integrative bussing, where I can still identify the ethnic neighborhoods to this day, and if you're 'where you don't belong' you hear about it even from the local police precincts. And in THAT city, the crime statistics reliably follow the the patchwork of various ethnic neighborhoods. There are clear distinctions between German/Yugoslavian, Mexican/Puerto Rican, Black/White, English/Irish, Jewish/anti-Jewish. Misery lives in that city.