Homes owned by black Americans undervalued by billions, says report

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According to (This article and its images were originally posted on Curbed – All November 27, 2018 at 12:54PM.)

Black Americans, long accustomed to facing more hurdles on the road to homeownership, may consistently find their investments in residential property undervalued, according to a new joint Brookings Institution and Gallup study released today.

According to “The devaluation of assets in black neighborhoods: The case of residential property,” across all majority black neighborhoods, owner-occupied homes are undervalued by the real estate market at large, and consistently sell or are appraised for lower prices, by an average of $48,000 per home. Nationwide, this amounts to $156 billion in cumulative losses, what the report dubs a “segregation tax.”

 

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This article and images were originally posted on [Curbed – All] November 27, 2018 at 12:54PM. Credit to the original author and Curbed – All | ESIST.T>G>S Recommended Articles Of The Day.

 

 

 

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