A recent disheartening study from the University of Illinois Chicago sociologist Junia Howell, released exclusively to Bloomberg CityLab, shows that homes in neighborhoods of color are appraised at far less values than in White neighborhoods across every major US metro: "Nationwide, homes in White neighborhoods were appraised at nearly triple the value of homes in communities of color in 2022 — extending a decades-long trend of worsening housing inequities that is making the racial wealth gap harder to curtail."  

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At Community Link, we work with first-time homebuyers, the majority of whom are Black and the first in their families to purchase a home. Through our financial empowerment workshops and classes, we help put our customers on a journey to build wealth through real estate that has existed in White communities for decades; yet, it's an uphill battle in an industry that undervalues these efforts.

We applaud the efforts of those committed to correcting appraisal racial disparities—and call on the industry as a whole to craft reforms.

More on the study here.

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