Michael Rikon Widespread Racial Bias Found in Home Appraisals. Increasing Diversity Will Diminish This Bias.
Racially based appraisal bias is a well-documented and pervasive issue that has long contributed to the widening wealth gap for Black families. This article discusses the issue and offers that the answer to reducing appraisal bias on racial grounds is to expand opportunities for Black real estate professionals.
December 22, 2022 at 11:00 AM
7 minute read
Real Estate
In September 2021, Freddie Mac released a groundbreaking analysis of the United States home appraisal industry. It was found that homes in Latino or Hispanic neighborhoods are much more likely than homes in White neighborhoods to be valued below fair market value.
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