For The Same home, White Homeowner Receives $350K Appraisal While His Black Partner Receives $310K Appraisal

Photo Credit: Goodboy Picture Company

 

 

According to MarketWatch, a test was conducted to provide a firsthand account of how the housing market differs for Black people versus white people.

An experiment: The study was carried out in Baltimore, MD, and involved an interracial couple who attempted to sell their home.

During the appraisal process, the black partner received a much lower quote than the white partner.

The single-family row house was initially valued at $350,000, and the white partner presented a “whitewashed” home.

All evidence of him having a Black spouse, including family photos and cultural items, was removed. The Black partner, on the other hand, was offered $310,000 after displaying a “blackwashed home” with no clear evidence of his white partner in sight.

According to the National Community Reinvestment Coalition, the experiment barely scratches the surface of the severe discrimination that Black homeowners face.

“The discrimination we discovered in the appraisals system undermines Black wealth-building and almost certainly violates the law,” said Jesse Van Tol, president and CEO of the NCRC, a Washington, D.C.-based nonprofit. “It is unacceptable for appraisers to undervalue homes and act in a less professional manner when dealing with Black homeowners.”

Situations like this do not only occur during research, but Black people face housing discrimination on a daily basis in real life.

A Baltimore couple is currently suing after their home appraisal increased from $472,000 to $750,000 after they allowed a friend, a white man, to stand in for them because they felt the original quote was significantly low.

Leave a Reply