The appraisal was $500,000 higher for the white person, rather than $50,000 as John said. This is anecdotal, and I would like to see a systematic study, but a $500,000 difference is a lot. I also don't believe that large differences in income and wealth should necessarily be attributed to differences in house prices. Different house prices applies to initial purchases as well as eventual sales.
Can you link to the study? I find that extremely difficult to believe on face value, and I want to confirm that they actually controlled for the major variables instead of making some kind of extrapolation. Even in my relatively very high priced mostly white area area, a black family owning a house would _never_ appraise for $500K less unless it were almost literally a burnt, flooded out shell.
Jon, I said that there should be a study, but there was no study that I am aware of. There was an individual case that was reported across the media. The same house was appraised for approximately $500,000 higher when a white person filled in as the owner, compared to what it was appraised for when the real Black owner was named as the owner.
It's easy to look up things such as this is you go to google.com. Just go to google and type house appraised for $500,000 more with white owner than with Black owner. You will get many articles to choose from.
The appraisal was $500,000 higher for the white person, rather than $50,000 as John said. This is anecdotal, and I would like to see a systematic study, but a $500,000 difference is a lot. I also don't believe that large differences in income and wealth should necessarily be attributed to differences in house prices. Different house prices applies to initial purchases as well as eventual sales.
Can you link to the study? I find that extremely difficult to believe on face value, and I want to confirm that they actually controlled for the major variables instead of making some kind of extrapolation. Even in my relatively very high priced mostly white area area, a black family owning a house would _never_ appraise for $500K less unless it were almost literally a burnt, flooded out shell.
Jon, I said that there should be a study, but there was no study that I am aware of. There was an individual case that was reported across the media. The same house was appraised for approximately $500,000 higher when a white person filled in as the owner, compared to what it was appraised for when the real Black owner was named as the owner.
https://abc7.com/black-homeowner-problems-sf-bay-area-housing-discrimination-minority-homeownership-anti-black-policy/10331076/
It's easy to look up things such as this is you go to google.com. Just go to google and type house appraised for $500,000 more with white owner than with Black owner. You will get many articles to choose from.