Zone1 How racial bias in appraisals affects the devaluation of homes in majority-Black neighborhoods

[Oldestyle]

Yada, Yada, Yada. There is racism in the appraisal process. That has been proven. No matter what the topic, or how much proof those like you are shown, you claim that no racism exists.

Proven by whom? I just told you that racism exists in house buying and has for hundreds of years. I just don't believe that it's common in the appraisal business. Interesting how you can read my post but not see that.

I guess if you're SO busy looking for racism...it's like you're wearing blinders!

 

[basquebromance]

News flash, black neighborhoods fucking suck. No one wants to move there, hence the low values.

for someone who lies about serving in uniform, you got a lot of nerve talking about black people

 

[Lisa558]

The reason is the quality of all-black or majority-black schools is substantially worse, and that affects the housing values:

THEN:

My high school was majority white, and I lived in a 4-bedroom, 3-bath colonial house. My immediate neighborhood was upper-middle class, with many families belonging to country clubs.

There were two big sections of modest apartments in my school district, also white, wit students from working class families. No problem, and everyone was in class all day.

NOW:

The lower-income apartment complexes are now mostly black, with a lot of illegals mixed in. The school has become a disaster, with only 13% of students scoring proficient in math, and the lowest-rated school in the county. They go straight from the school bus in the morning and walk up to the McDonalds or hang out in the strip mall.

The housing prices in my formerly upper-class neighborhood now are far below comparable houses with a decent high school. Educated parents who value education for their kids either don’t buy, or send their kids to private school.

In Summary: It’s the SCHOOLS, stupid!

 

[Patriot01]

How racial bias in appraisals affects the devaluation of homes in majority-Black neighborhoods

Previous Brookings research found that homes are undervalued in majority-Black neighborhoods, yet could not identify why. Recently, the Federal Housing Finance Agency released new neighborhood-level data on home appraisals. Using this data in combination with other sources, this report draws the following conclusions on home appraisal bias’s effect on housing markets in majority-Black neighborhoods:

We continue to find that homes in Black neighborhoods are valued roughly 21% to 23% below what their valuations would be in non-Black neighborhoods.

Adjusting for characteristics of homes and neighborhoods, we find that appraisal transactions in majority-Black neighborhoods are 1.9 times more likely to be appraised under the contract price than homes in majority-white neighborhoods.

We estimate that the median appraisal is 15% lower in majority-Black neighborhoods compared to homes in neighborhoods where less than 1% of the population is Black.

How racial bias in appraisals affects the devaluation of homes in majority-Black neighborhoods | Brookings

Contents Summary Understanding devaluation New data on appraisal bias Estimating lost appraisal value Re-estimating the devaluation of homes in Black neighborhoods Conclusions and limitations Metro area dashboard Summary Previous Brookings research found that homes are undervalued in...

www.brookings.edu

And this underappraisal creates lower property values and that affects school funding. So again simple minded one liners about the need for blacks to emphasize education more does not cover everything that goes on.

Blacks make more bad decisions then whites. It will effect them everywhere

 

[Godboy]

for someone who lies about serving in uniform, you got a lot of nerve talking about black people

Can you imagine how pathetic someone would have to be in order to lie about being an F/A-18 ejection seat mechanic in the US Navy, who never saw a moment of war? "Thank you for your service" doesnt apply to guys with my resume.

 

[basquebromance]

Can you imagine how pathetic someone would have to be in order to lie about being an F/A-18 ejection seat mechanic in the US Navy who never saw a moment of war? "Thank you for your service" doesnt apply to guys with my resume.

i never saw a moment of war either. so who am i to talk about other folks

i was just mad at you for not being the bro i want you to be. it's ok. i overreacted. i was just joking anyway to get a reaction out of you.

you're no George Santos lol!

 

[marvin martian]

How racial bias in appraisals affects the devaluation of homes in majority-Black neighborhoods

Previous Brookings research found that homes are undervalued in majority-Black neighborhoods, yet could not identify why. Recently, the Federal Housing Finance Agency released new neighborhood-level data on home appraisals. Using this data in combination with other sources, this report draws the following conclusions on home appraisal bias’s effect on housing markets in majority-Black neighborhoods:

We continue to find that homes in Black neighborhoods are valued roughly 21% to 23% below what their valuations would be in non-Black neighborhoods.

Adjusting for characteristics of homes and neighborhoods, we find that appraisal transactions in majority-Black neighborhoods are 1.9 times more likely to be appraised under the contract price than homes in majority-white neighborhoods.

We estimate that the median appraisal is 15% lower in majority-Black neighborhoods compared to homes in neighborhoods where less than 1% of the population is Black.

How racial bias in appraisals affects the devaluation of homes in majority-Black neighborhoods | Brookings

Contents Summary Understanding devaluation New data on appraisal bias Estimating lost appraisal value Re-estimating the devaluation of homes in Black neighborhoods Conclusions and limitations Metro area dashboard Summary Previous Brookings research found that homes are undervalued in...

www.brookings.edu

And this underappraisal creates lower property values and that affects school funding. So again simple minded one liners about the need for blacks to emphasize education more does not cover everything that goes on.

I knew this kind of thing was going on in blue cities all over the country, and the study in your link proves it. Thank you for shining a light on the DemoKKKrats' racism once again.