Connect with us

BIPOC

Black couple home appraisal low balled, believe race was a factor

The first appraisal was $500K lower when the home appeared to be owned by a Black couple.

Published

on

Five Fast Facts

  • Paul Austin and Tenisha Tate Austin bought a home in Marin City, California in 2016
  • They did $400K in renovations and upgrades including adding a second floor and more than 1,000 feet of new living space
  • An appraiser valued the home after renovations at $989,000, which was below comparable homes in the neighborhood – the Austin’s felt the low appraisal was due to their race
  • A white friend agreed to be their stand-in during a second appraisal, including replacing family pictures and items in the home
  • The home appraised for $1,482,000 in the second visit – which can’t be accounted for changes in market conditions between the two appraisals

SAN FRANCISCO (KGO) – In the New Year, systemic racism has continued to force inequity in home ownership rates across the Bay Area, and Black families who are in a position to purchase a home often face discrimination.

It is no secret that home ownership is a proven pathway to building wealth in the United States. But in a competitive housing market with some of the most expensive homes in the country, it is tough for Black Bay Area residents to buy a home to start the process.

Keep reading at ABC 7

Please Support Malcontent News

What started as a blog about the weather written by one person has evolved into a respected news source backed by a team of more than 20 individuals in the United States and Canada.

Our audience has grown 10X in 2020, and we are very appreciative. A free press is a Constitutional right, but it doesn’t come free. We are asking you to support Malcontent News so we can continue to fulfill our core missions of showing an unfiltered view of the before, during, and after, defend the First Amendment, and amplify BIPOC and LGBTQIA+ voices. We want to be able to continue to provide an advertisement free experience.

Patreon Logo

For as little as $5 a month, you can support Malcontent News. Becoming a Patreon will help cover technology, data, bandwidth, and travel costs. Starting December 1, 2020, we will be listing all Patreons in our credits who donate at the $10 a month or higher level. Subscribe NOW!

Venmo Logo

A one-time Venmo donation can help with safety gear, equipment, or a small thank you to show your appreciation for what Malcontent News provides. No amount is too small, even $5 goes a long way. Venmo NOW!

Main Categories

Like, Share, Follow, Support

Hot News

Your Comments

Previous News

Trending