A recent study by the Bookings Institution and Gallup showed that homes in majority black neighborhoods consistently sell or are appraised for lower prices, by an average of $48,000 per home. That amounts to $156 Billion in cumulative losses nationwide. Homes of similar value with similar features are valued at 23 percent less in black neighborhoods compared to those with very few or no black residents. The argument to justify this will be that black neighborhoods have higher crime rates, longer commute times, and less access to high scoring schools, thus making the homes worth less. That’s true but only partially. The study shows that those factors account for half of the undervaluations. The other half or $78billion has solely one cause. Racism. The report states “We believe anti-black bias is the reason this undervaluation happens. The effects of this undervaluation is to much to type. But there’s a great YouTube piece on it by MSNBC. Disturbing on a lot of levels, but not surprising. My mission is to do my part to help change these numbers in 2019. Because my Why & Goals are so strong I had to start in 2018. Become a #Realtist Today and do your part. . . . . . #IEAOR #NAREB #CAREB #cljrealtygroup #homeownership #blackhomeownership #home #blackhomeownershipmatters #family #blackfamily #goals #blackfamilygoals #2019 #realestate #realestatebroker #realestateagent #realtor #realtorsofinstagram #realtorlife #life #truestory #realtalk #blacklove #goals #realestategoals #america #greatpeople #helpingothers #lifestyleblogger https://www.instagram.com/p/BrDTth_gaqq/?utm_source=ig_tumblr_share&igshid=11vatoqbss29m
