Yessir! I saw their video on TV yesterday.
S.F. Black Family's Home Appraised at 989k. SAME HOUSE cac OWNED 1.48 MILLION
- Thread starter An RnB Thug
- Start date
Black Homeowners Face Discrimination in Appraisals (Published 2020)
Companies that value homes for sale or refinancing are bound by law not to discriminate. Black homeowners say it happens anyway.
lots of stories about this especially after the sub-prime crash but nothing is being done/changing. the industry knows but these stories only really highlight black homeowners in white/gentrifying neighborhoods. What's happening to homeowners in black neighborhoods? values are depressed until gentrification comes around
Black California couple lowballed by $500K in home appraisal, believe race was a factor
The Austin family sunk $400,000 into renovating their home, but were stunned when they barely gained any value during the appraisal process. When they had a white woman pose as the homeowner, that all changed.
Silly question....are we not Financial able to do Lending Business and Appraisals from our Black Owned Banks again? We know this is really why they burnt down places like Rosewood and Tulsa (and many other places) we were gaining economic Independence and they had to find a way to halt it.
She wouldn't have been able to if she didn't.
Our house was appraised by double on Zillow and Redin. Maybe they don't know we own it.I had this old ass CAC appraise my house for the exact same amount it was a year prior before I installed solar panels on the roof.
I'm going to get it appraised later this year to include the solar panel addition by someone else, now Zillow got me at $300k when I bought the home for $160k
Come up
That's not a silly question. Most neighborhoods do not have the benefit of a Black-owned bank in the area that can finance the home for them. The same applies to a home appraisal company. Now that this is being discussed, hopefully, changes will be legislated.
also the appraisers and realtors are independent of the bank - always systemic.. That's on top of the inflation of real estate, at all levels, constantly
I thought this was an interesting report about redlining...the two gentlemen talking about the didn't know...i think they knew but they dont want to come off as racist. BTW, i dont know who Gayle King has doing her makeup and hair, but ive never seen her look this good..she looks a lot younger than she ever has...
You also have to consider the wealth that is passed down in addition to the access to cheap credit. The median white household has wealth of 188K while our households have 24K. This is median and not average which makes it even more insane.
You can go back further. G.I. Bill after WWII game a ton of cacs a springboard: Education, mortgages etc. Of around the 67,000 G.I. Bill mortgages in NYC/NJ *100* went to non white vets.
Remember that cac Bill O'Reilly that always talked about being from "blue collar" Levittown ? That was one of the areas where G.I.s moved to but We were excluded from living there:https://www.washingtonpost.com/news...t-the-racial-history-of-his-own-hometown/:smh:
You also have to consider the wealth that is passed down in addition to the access to cheap credit. The median white household has wealth of 188K while our households have 24K. This is median and not average which makes it even more insane.
You can go back further. G.I. Bill after WWII game a ton of cacs a springboard: Education, mortgages etc. Of around the 67,000 G.I. Bill mortgages in NYC/NJ *100* went to non white vets.
Remember that cac Bill O'Reilly that always talked about being from "blue collar" Levittown ? That was one of the areas where G.I.s moved to but We were excluded from living there:https://www.washingtonpost.com/news...t-the-racial-history-of-his-own-hometown/:smh:
True.
With Black folks, we actually achieved a lot during Reconstruction after Slavery.
If Blacks were allowed to continue the progress they were making back in the late 1800s, we would be way far ahead from where we are today socially and economically.
White folks just could not accept and comprehend waking up one day and we were slaves and waking up the next day and we were equal to them. It basically just blew their mind and that mindset continues on today.
Related:
themarkup.org
The Secret Bias Hidden in Mortgage-Approval Algorithms – The Markup
Even accounting for factors lenders said would explain disparities, people of color are denied mortgages at significantly higher rates than White people
themarkup.org
First off that shit is fucked up. 2nd I just sold my December 22nd got an offer for twice what I paid for it comps and market value over an appraisal these days. Seems like my joint sold(received multiple offers) before any appraisal as done. Appraisals are for jewelry. An appraisal ain't shit without an offer.
It's always been like that in every phase of life. They just have money or access to money to deal with or hide their problems...