White House releases plan to combat racial discrimination in housing appraisals

[Rigby5]

Blacks don't have to submit to it.

The poor get no say.
The wealthy can outbid and take over neighborhoods, and frequently do.

 

[Rigby5]

Except what happened in 2008 was that WHITE people were buying McMansions that were overvalued, not poor people in bungalows in the inner cities.

And 2008 also was deliberate fraud, as interest rates were tied to British LIBOR instead of US prime rate, so when Bush caused a recession, the ARM payments went way up instead of going down with the economy, as they should have.
The McMansions were overvalued, but the buyers could have still made the payments if they had not ballooned up due to a deliberately fraudulent adjustable rate manipulation.

 

[westwall]

This sounds like it would cause another Democrat real estate bubble like the one that caused the Great Recession.
Haven't the Greedy Corrupt Democrats abused the middle class enough already?

Nope. The ruling elite hate the middle class so are out to destroy us.

 

[Rigby5]

How are blacks’ homes undervalued?

The homes of the blacks who live in my neighborhood are selling for the same price as the ones owned by whites. No appraiser is undervaluing them because of the skin color of the owner.

Depends on the state, city, neighborhood, ratio of rentals to owner occupied, etc.
For example, WI and OR are very racially sensitive.

 

[Rigby5]

Nope. The ruling elite hate the middle class so are out to destroy us.

I would say the ruling elite want to profit off the middle class, so do not want to "destroy" them as much as they want the middle class to remain powerless, unaware, unorganized, unrepresented, etc.

 

[Flash]

So if you are a goddamn Negro the appraiser has to make your appraisal higher than the market value?

How fucking idiotic can you be?

 

[Flash]

House appraisal based upon skin color.

You would think that idea was satire from The Babylon Bee but no, it came out of Joe Poataohead's fucked up mind or one of the idiots he has working for him.

 

[Woodznutz]

Because if the appraisal comes out unrealistically low, the Blacks won't get their mortgage.
And landlords are outbidding poor people, due to tax breaks only landlords get.
So we are getting less and less owner occupied, and more rentals.
And owner occupied always have less crime, better resale, etc.

Perhaps if blacks had more capital available to them (through black owned, or black favored banks) they would get their mortgages approved.

 

[TheParser]

It will also seek to diversify the appraiser/assessor profession, which is currently 97% White -- making it among the least diverse in the country -- by removing "unnecessary educational and experience requirements" and requiring anti-bias, fair housing and fair lending training of current appraisers.

Thank you for giving me my first chuckle of the day.

Since the 1960s, they have been removing educational and experience requirements for those folks.

Let's be frank (but as gentle as possible).

No one (not even those folks) want to live in a neighborhood that has a majority or even a large number of those folks. (See how fast those athletes move as soon as they're in the big money?)

After all, who would want to live in an area of dangerous dogs (often let loose), loud music, wild parties, drug dealing, home burglaries, etc.?

It's the American problem that will NEVER be "solved."

 

[Lisa558]

if Kamala Harris takes over when Biden can no longer read from the teleprompter, this is the type of thing we can expect to explode. She already has said she wants to hand out $25,000 (of taxpayer money) to low-income families for a down payment because it will close the “equity” gap between blacks and whites.

We are in the midst of rampant anti-white racism, in which whites are viewed as inferior and deserving of inferior treatment. Just recently, a Democrat school board said that in the event of layoffs, whiteys will be fired before blacks regardless of seniority.

 

[Muhammed]

But that is not a solution, and instead is a whole new problem, that likely is even worse.

Your racism is showing again.

Everyone knows that LWNJ moonbat racists such as yourself and your ilk use the word "gentrification" as a PC euphemism for "I hate you white honky crackas movin' into da hood 'cause you be da wrong cullah".

 

[monkrules]

if Kamala Harris takes over when Biden can no longer read from the teleprompter, this is the type of thing we can expect to explode. She already has said she wants to hand out $25,000 (of taxpayer money) to low-income families for a down payment because it will close the “equity” gap between blacks and whites.

We are in the midst of rampant anti-white racism, in which whites are viewed as inferior and deserving of inferior treatment. Just recently, a Democrat school board said that in the event of layoffs, whiteys will be fired before blacks regardless of seniority.

Instead of wasting time on all the racial bullshit, the administration should be doing something to stop the invasion of our country by illegal aliens.

After all this crap is put in place: lowering all entry requirements for college, lowering experience and training requirements for black job applicants, all the Affirmative Action baloney in all areas of our lives, and now the ridiculous income guarantees the idiot Kamala wants to put in place, it is pretty much assured that black people will NEVER learn to stand on their own two feet.

Why should they, when everything is being handed to them on a silver platter. Every other ethnic group WORKS for every single improvement in their lives. Even immigrants who come here with just the clothes on their backs. And who can barely speak English.

It's time for all the handouts to end. Time for everyone to earn his own keep. Blacks included. Quit whining, start working.

 

[Lisa558]

Instead of wasting time on all the racial bullshit, the administration should be doing something to stop the invasion of our country by illegal aliens.

After all this crap is put in place: lowering all entry requirements for college, lowering experience and training requirements for black job applicants, all the Affirmative Action baloney in all areas of our lives, and now the ridiculous income guarantees the idiot Kamala wants to put in place, it is pretty much assured that black people will NEVER learn to stand on their own two feet.

Why should they, when everything is being handed to them on a silver platter. Every other ethnic group WORKS for every single improvement in their lives. Even immigrants who come here with just the clothes on their backs. And who can barely speak English.

It's time for all the handouts to end. Time for everyone to earn his own keep. Blacks included. Quit whining, start working.

I can’t begin to tell you how fed up I am with the degree to which the America-hating leftists are destroying this country by rewarding irresponsible and lazy behavior (and scolding motivated, intelligent, hard-working people), and then screeching “raaaaacist” or “hater!!” to anyone who objects.

 

[monkrules]

A couple of years ago, in a televised interview, a black woman about 40 years of age was gushing with pride as she told the interviewer, "I never thought I would get to this point..."

She had 3 or 4 kids, was on welfare (probably forever), and Section 8 had just moved them into a brand new 3 or 4 bedroom home in the suburbs.

The stupid bitch was talking as if she had EARNED the damned home. I'm still filled with revulsion when I remember her words and facial expressions.

We seem to be quickly moving from a merit based society to a nation of deadbeats.

There's some talk about getting rid of whites, etc. If that were to happen, who the hell do they think would pay for all their fucking handouts?!

If all whites disappeared from this nation tomorrow, it wouldn't be long before this place would go into full-out African starvation mode. These folks had better be careful what they wish for. Lol...

 

[Muhammed]

land lords should not get as many tax breaks as they do.

Why not? Simply because you are jealous of us?

WTF? Explain yourself.

 

[JoeB131]

if Kamala Harris takes over when Biden can no longer read from the teleprompter, this is the type of thing we can expect to explode. She already has said she wants to hand out $25,000 (of taxpayer money) to low-income families for a down payment because it will close the “equity” gap between blacks and whites.

We are in the midst of rampant anti-white racism, in which whites are viewed as inferior and deserving of inferior treatment. Just recently, a Democrat school board said that in the event of layoffs, whiteys will be fired before blacks regardless of seniority.

Poor Lisa, always thinks she is being oppressed.

 

[LibertyKid]

"Because their homes are undervalued, Black and Latino people often have to pay more for their mortgage, receive less when they sell the home and are less able to access home equity lines of credit," Harris said. "Systemic bias in home evaluations widens the racial wealth gap and deepens the longstanding financial inequities that divide our communities."

Under the plan the administration will commit federal agencies to enhance oversight of the appraisal industry and improve coordination and collaboration with federal enforcement agencies "to better identify and redress discrimination in appraisals."

It will also seek to diversify the appraiser/assessor profession, which is currently 97% White -- making it among the least diverse in the country -- by removing "unnecessary educational and experience requirements" and requiring anti-bias, fair housing and fair lending training of current appraisers.

White House releases plan to combat racial discrimination in housing appraisals

LOL....Raise home values in the bad part of town through bogus appraisals, sell them on HELOCs, homes go into foreclosure, Black Rock rents them back......Sounds like one hell of a plan and just like the rest....Follow the money.

Oh wait, who does Black Rock donate mostly to again, that's right, mostly to dems.

BlackRock Inc Profile: Recipients

So, this doesn't make sense to some degree. I'm not sure the percentage, but i would guess that most homes sold today utilize the mechanism of a licensed Realtor. A good realtor will understand their market and value of the homes they are selling. The realtor is the one who advises, using professional experience and the current market to advise the homeowner of what to sell at (even though the homeowner is really under no obligation to sell at the advised price).

Upon the receipt and acceptance of a buyers agreement, the home then goes through several processes, one of which is an appraisal. The licensed appraiser's job is validate the home's value against the purchase price. If the home is worth the purchase price the sale moves forward. If the sale price is greater than the home's value, this creates a roadblock. Either the seller has to lower the value of the home, or the buyer has to come up with more money to put down to lower the amount being financed.

My point, this entire process STARTS WITH THE REALTOR. So the question is this, do we have realtors overstating the price of the home to sellers?
The other issue I have with the article is that it doesn't state any reason as to the "Why". And this is a great example of piss poor journalism. Any claim require evidence. The posted article provides none, only a problem with a potential solution. But if we don't know the cause, the solution may or may not work.