Poll of the Day > How to profit from racism

(+) Yeah! (+)

https://www.cincinnati.com/story/money/2021/05/13/indianapolis-black-homeowner-home-appraisal-discrimination/5071223001/

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hmmm.. weird

I can see them discriminating by neighborhood surroundings (obviously,), but it's strange to think that they would do so based purely on who lives there and not taking into account the surrounding element at all

edit: nvm, she lives in a historical project/black area, so they are obviously trying to devalue her house for gentrification purposes like always. Shame :(

Having done this multiple times, I legitimately don't understand how there would be a difference. I'm not saying there might not be some form of discrimination, but every appraisal I've ever done has been without me physically being involved. No one would know if I'm black or white and she doesn't have a 'black' name which has been historically used to discriminate.

Aside from that, there's a lot of variables that go into appraisals and honestly most appraisers are kinda just making it up. Some will base appraisals on current comps in the area. Some will base it on historical comps in the area. Some will base it only on the value that they bought it for. Some will include improvements to the property and some won't. I had one appraiser assess one of my properties at 340k and another for 500k within the same month. Not only that, but the pandemic itself has really fucked with the housing market. A place I bought a year ago is now worth 120k more today for about a 50% increase in a matter of months.

They should investigate the issue, but I wouldn't count the chickens before they hatch.

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