A Black family in Cincinnati believes they were the victims of “appraisal discrimination” when their property was appraised at a lesser value than it was worth due to their race. Before their home appraisal went up, the Parker family said they had to remove any indicators of being Black.
Erica Parker admitted that removing family mementos, priceless artwork, and her girls’ superhero pictures from the house was difficult. She tried to keep it a secret so she wouldn’t have to explain herself to her children. Her six-year-old, however, noticed her removing the goods and inquired, “Mommy, what are you doing?”
Parker told WCPO, “I just wanted to talk to her.” “And say, you know…we’ve discussed this before.
We are sometimes treated differently because of the color of our skin.”
Paker later produced a video about her experience “whitewashing” her Loveland, Ohio, home. In her video, she added, “It’s a sad, damn day in my house.” “But you have to do what you have to do.”
Racial discrimination in the housing market in the United States is a systemic issue, as evidenced by various reports over the years that have revealed a considerable disparity between Black and White homeowners. Despite the fact that the reasons for this are well recognized, such as redlining, difficulties obtaining home loans, and undervaluing Black-owned homes, efforts to address these barriers have advanced at a snail’s pace.
When it comes to appraisal discrimination, Parker’s husband, Aaron Parker, said, “If our parents know about it, our grandparents know about it, and friends and family know about it, and friends and family know about it, and friends and family know about it, and friends and family know about it, and friends and family know about it, and “It’s a systematic issue.”
Parker and her husband first engaged with one assessor, who gave them a substantially lower valuation for their home than they anticipated. As a result, they engaged their own evaluator, who came back with a price that was $92,000 higher than the previous appraisal. “I went back and forth from crying to angry to crying,” Parker explained. “I didn’t spend too much time on any one walk-through. Because he’s like, I knew it, my hubby was focused. I knew it was incorrect.”
According to WCPO, a federal task team is investigating the issue of appraisal prejudice and is anticipated to submit suggestions by early 2022.
During the federal task force’s first meeting on August 5, Michael Neal, a senior research associate with the Urban Institute, testified on the topic, saying, “We certainly are hearing stories about this nationwide, about this really acute problem being faced by homeowners of color, and Black homeowners in particular.” “The evidence suggests that this is a challenge and a significant problem,” says the researcher.
The Parker family and their attorney are deciding how to proceed with the case. A Black Bay Area couple recently told their tale about how despite making extensive upgrades worth hundreds of thousands of dollars, their home was devalued by a White appraiser. Race, they feel, played a role.
A 2018 analysis by Gallup and the Brookings Institution gave some light on the devaluation of Black neighborhoods’ properties in comparison to identical homes in White neighborhoods. “Owner-occupied homes in black communities are devalued by $48,000 per property on average, equating to $156 billion in cumulative losses,” according to the analysis.
Andre Perry, one of the Brookings Institution report’s authors, told The New York Times that Black homeowners continue to shoulder the brunt of their homes’ devaluation, regardless of the community they live in.
Perry stated, “We still regard Black folks as unsafe.” “White appraisers share white America’s attitudes and views – the same ideas that drove Derek Chauvin to squat casually on George Floyd’s neck are shared by other professionals in other disciplines. In the appraisal industry, how does that choking out of America look? “Through really low ratings.”
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