Unfortunately, we have yet another example of what it’s like to be a Black homeowner.
According to MarketWatch, a test was conducted that shows a firsthand account of what the housing market looks like for Black people versus their white counterparts.
An experiment: The study was conducted in Baltimore, MD, and included an interracial couple who attempted to put their home up for sale.
During the appraisal process, the Black partner received a quote significantly lower than his white partner.
The Appraisal Test
The single-family row house was initially valued at $350,000 and included a “whitewashed” home presented by the white partner.
All evidence of him having a Black spouse was removed, including family photos and cultural items. On the other hand, the Black partner was offered $310,000 after showing a ” blackwashed home,” with no clear evidence of his white partner in sight.
Per the National Community Reinvestment Coalition, the experiment conducted barely touches the surface of the severe discrimination that Black people face as homeowners.
“The discrimination we found in the appraisals system undermines Black wealth-building and almost certainly violates the law,” said Jesse Van Tol, president and CEO of the NCRC, the nonprofit based in Washington, D.C. “It is unacceptable for appraisers to undercut the value of homes and conduct themselves less professionally when dealing with Black homeowners.”
An On-Going Problem
As previously reported by AfroTech, situations like this don’t only occur when studies are being conducted, but housing discrimination is faced by Black people on the regular in real life.
A Baltimore couple is currently in the middle of a lawsuit after their home appraisal went from $472,000 to $750,000 when they allowed a friend, who was a white man, to stand in for them because they felt like the original quote was drastically low.