For decades, people of color were systematically excluded from buying homes, contributing to an ongoing racial wealth gap. One group that historically played a large role in racist housing practices is the National Association of Realtors (NAR), the real estate industry’s trade group. Today, it is one of the largest and most powerful trade associations in the United States.
Adjacent issue: In Marin City, CA, a Black couple had their home, which they paid ~$500 K and remodeled for an additional $400 K, appraised at ~$1 mm in Feb 2020 after the home appraised for $1.5 in March 2019.
They "erased themselves" from the house and had a White friend "act" as the homeowner a few weeks later. Surprise! The new appraisal came in ~$1.5 mm.
A 2018 Brooking Institute study found comparable homes in White neighborhoods appraised 23% higher on average to Black neighborhoods. Considering 30% of the USA has no wealth outside of home equity (source: Deutsche Bank), this is a huge impact on Black wealth and the ability to create wealth.
Can’t, sorry, quite get my panties in a twist about the NAR’s belated apology, imputed hypocrisy etc - at least not as long as NAB (national association of bankers, those who actively denied financing in black/low income “redlined”neighborhoods) gets a pass.
But here’s what incenses me in this column:
“Rep. Glenn Grothman (R-WI) introduced another bill in June that would “promote dignity and nondiscrimination” in Washington, D.C. public schools by banning CRT from being taught.”
Why in G-d ’s name must DC schoolchildren be subject to the (sick) educational theories of a WI Republican congressman?
Bad enough that parents of children in LaCrosse (or, wherever, I don’t know what district GG represents) vote for such a loony tune, who would like to “protect” their DC peers from any sort of intellectual activity not starting with “f” and ending with “ootball”…but really, is it in any way sensible that our US Congress serves as an overpaid, mismatched school council for the District?
Thank you for shining some light on this issue. Believe me there's more to find. For example, "lower income housing" often requires an income higher than most truly poor people can show. The builders of these new multi income apts profit.....
Adjacent issue: In Marin City, CA, a Black couple had their home, which they paid ~$500 K and remodeled for an additional $400 K, appraised at ~$1 mm in Feb 2020 after the home appraised for $1.5 in March 2019.
They "erased themselves" from the house and had a White friend "act" as the homeowner a few weeks later. Surprise! The new appraisal came in ~$1.5 mm.
A 2018 Brooking Institute study found comparable homes in White neighborhoods appraised 23% higher on average to Black neighborhoods. Considering 30% of the USA has no wealth outside of home equity (source: Deutsche Bank), this is a huge impact on Black wealth and the ability to create wealth.
As is often the case, the "behind-the-scenes" money tells the true story. Great reporting, Judd and PopInfo team.
Can’t, sorry, quite get my panties in a twist about the NAR’s belated apology, imputed hypocrisy etc - at least not as long as NAB (national association of bankers, those who actively denied financing in black/low income “redlined”neighborhoods) gets a pass.
But here’s what incenses me in this column:
“Rep. Glenn Grothman (R-WI) introduced another bill in June that would “promote dignity and nondiscrimination” in Washington, D.C. public schools by banning CRT from being taught.”
Why in G-d ’s name must DC schoolchildren be subject to the (sick) educational theories of a WI Republican congressman?
Bad enough that parents of children in LaCrosse (or, wherever, I don’t know what district GG represents) vote for such a loony tune, who would like to “protect” their DC peers from any sort of intellectual activity not starting with “f” and ending with “ootball”…but really, is it in any way sensible that our US Congress serves as an overpaid, mismatched school council for the District?
Thank you for shining some light on this issue. Believe me there's more to find. For example, "lower income housing" often requires an income higher than most truly poor people can show. The builders of these new multi income apts profit.....