Black Homeowners Are Getting Lower Appraisals Than White Neighbors

The video discusses racial disparities in home appraisals, highlighting cases where black homeowners received lower appraisals compared to when white friends posed as owners. It features stories from Carlette Duffy, the Parkers, and the Austins, who all experienced significant differences in home valuations due to racial bias. The video also presents data showing the lack of diversity in the appraisal industry and the broader racial wealth gap, emphasizing the systemic nature of these issues.

What is the main issue highlighted in the introduction regarding home appraisals?

• Racial bias leading to lower appraisals for black homeowners.

• The high cost of home appraisals.

• The role of technology in appraisals.

• The complexity of the appraisal process.

In Carlette Duffy's case, what change led to a higher appraisal value?

• Renovating the house.

• Listing the house on multiple platforms.

• Having a white friend pose as the homeowner.

• Changing the appraisal company.

What was one of the major errors in the Parkers' initial appraisal report?

• Overestimating the home's size.

• Misreporting the number of bedrooms.

• Incorrect age of the home.

• Ignoring the neighborhood's value.

How much more was the Austins' home appraised for after a white friend stood in?

• $100,000 more

• $200,000 more

• $500,000 more

• $50,000 more

What percentage of property appraisers identify as white, according to the data?

• 85%

• 50%

• 75%

• 96%

What is the estimated cumulative loss due to undervaluation of black neighborhoods?

• $48 billion

• $100 billion

• $156 billion

• $200 billion

What is a significant factor contributing to the racial wealth gap?

• Limited access to banking services.

• Low rates of black homeownership.

• Lack of financial education.

• High taxes on black homeowners.