Biden admin to release plan to stop bias in home appraisals

The Associated Press ^ | March 23, 2022 | By JOSH BOAK

[struggle]

Tackling the pressing issues.

[guardian_of_liberty]

Everything is racist.

[Nifster]

Because many such neighborhoods are not well maintained

[rightwingcrazy]

“appraisers are more likely to undervalue homes in Black and Hispanic neighborhoods.”

Shouldn’t smart buyers be scooping these up?

[Gene Eric]

LOL. slum refi bonanza! CRA v2

[Agatsu77]

OMG, now houses are racist!

[bert]

Maintenance is not in an African vocabulary

[bert]

After labor, biden’s job is kissing Black ass.

[Jim W N]

The U.S. Federal Government is effectively an unlimited, totalitarian government. Constitutional limits have been effectively abandoned.

There is no force on earth that is more threatening to America, the American People, and their freedoms and way of life than the 80%+ unconstitutional portion of the Federal Government.

[Kid Shelleen]

>> “appraisers are more likely to undervalue homes in Black and Hispanic neighborhoods.” <<

So whites have to pay more for housing? Isn't that racist?

[WashingtonSource]

So the fact that blacks and minorities live in poorer neighborhoods is irrelevant? This is another stupid idea from Washington that will destroy families with too much debt and destroy neighborhoods by inflating hone prices above what the residents can afford. Another idiotic chapter in the “affordable housing” nonsense from Washington that brought us the financial crisis of 2008 and the collapse of financial markets around the globe.

[period end of story]

Bullet holes in houses should add value, not decrease it.

[dinodino]

Appraisals are racist. Probably best to just automatically double appraisals for POC.

/s

[liberalh8ter]

So the Biden administration is going to rubber stamp the artificial inflation of the value of some homes? Will a run down neighborhood home now be valued the same as a home in a nice neighborhood 5 miles away simply because the run down neighborhood has minority homeowners? There's nothing the Democrats won't destroy.

[skeeter]

One, appraisers come in all ethnicities, and two, there is absolutely no incentive for an appraiser to undervalue a residence.

[skeeter]

If an appraiser really wanted to screw over minorities he or she would over value homes in black and hispanic areas, pricing poor locals out of their own neighborhoods.

Aren’t they always kvetching about gentrification?

[chuckee]

Appraisin’ ain’t easy in the ghetto

[Track9]

More regulation reduces inflation. Not

[DugwayDuke]

“One Black homeowner in Indianapolis found the appraised value of her home went from $125,000 to $259,000 after she declined to state her race in her application and removed all family photos and African American art in the home.”

Any time spent watching HGTV will clearly demonstrate the value of ‘staging’ your home which includes removing all family photos and art from the home.