Homes in Black neighborhoods undervalued $46K: report
Report: Homes in Black neighborhoods undervalued $46K
FOX 26's Heather Sullivan has some smart sense about a new report stating that homes in Black neighborhoods are undervalued by an average of $46,000.
HOUSTON - A new study finds that homes in Black neighborhoods are undervalued by an average of $46,000 compared to similar homes in white neighborhoods nationwide.
The report, by real estate broker, Redfin, found the disparity when comparing homes similiar in size, condition, neighborhood amenities, and schools in nearby white and Black neighborhoods.
"Disappointed, sad, because it has been going on for such a very long time," reacted Kim Barnes-Henson with the National Association of Real Estate Brokers and past President of the Houston Black Real Estate Association.