RACIAL DISCRIMINATION, HOME APPRAISALS, AND THE FAIR HOUSING ACT: REGULATING PRIVATE APPRAISERS TO REDUCE THE RACIAL WEALTH GAP
Author: John Byrnes
Like many families during the COVID-19 pandemic, the Hortons hoped to refinance their home with a lower interest rate. Surrounded by midcentury homes valued at upwards of a half a million dollars in Jacksonville, Florida, the couple expected a modest appraisal of around $450,000. However, the appraiser came back with a value of $330,000, shattering their dreams of a successful refinance. As the Black member of an interracial couple, Abena Horton suspected discrimination—and she conducted an experiment to prove racial bias