andre perry, senior fellio at the brookings institution, writes about it. we found homes in black neighborhoods are underpriced by 23%. there s about $156 billion in lost equity in black neighborhoods. $156 billion. and joe johns joins me now. joe, thanks for joining us. the austins are suing. what are they expecting to get out of the suit? they say they want an order about discrimination, but there s also the issue of damages. they lost the interest rate they were trying to get, around i did ask the lawyers, in terms of damages, what are you asking for? because how do you calculate that? it s a huge problem, and people can lose tens of thousands of dollars if they get a bad appraisal, don. joe johns, thank you so much. i appreciate it. and thank you for watching, everyone. our coverage continues.
the brookings institution, writes about it. we find homes in black neighborhoods are underpriced by 23%, about 48,000 cumulatively. about 156 billion in lost equity in black neighborhoods. 156 billion. and joe johns joins me now. joe, thanks for joining us. the austins are suing. what are they expecting to get out of the suit? reporter: well, they say they want an order about discrimination, but there s also the issue of damages. they lost the interest rate that they were trying to get. and i did ask the lawyers in terms of damages what are you asking for because how do you calculate that? they haven t figured it out yet. still, it s a huge problem, and people can lose tens of thousands of dollars if they get a bad appraisal, don. all right. joe johns, thank you so much. i appreciate it. and thank you for watching, everyone. our coverage continues. th fidel, we ll look at what you ve saved, what you ll need, and build a straightforward plan
dissipated. then i just cried. reporter: duffy s experience isn t isolated. homes in black neighborhoods, equivalent to white counterparts in similar social circumstances now are underpriced by 23%, about $48,000 per home. that adds up to $156 billion in lost equity. reporter: this month duffy filed a complaint with the u.s. department of housing and urban development, alleging discrimination in both her appraisal and lending process. you are taking away my family s ability to create generational wealth. reporter: in statements to nbc news, citywide home loans denied discrimination and said they re actively participating in the hud investigation. freedom mortgage said they used an automated valuation model after receiving the complaint and stood by the appraised value. none of the appraisers named in
isn t isolated. homes in black neighborhoods equivalent to their white counterparts are underpriced by 23%, about $48,000 per home. that adds up to $156 billion in lost equity. reporter: this month, duffey filed a complaint with the u.s. department of housing and urban department, alleging discrimination in both her appraisal and lending process. you are taking away my family s ability to create generational wealth. reporter: in statements to nbc news, citywide home loans denied any discrimination and said they are actively participating in the hud investigation. freedom mortgage said they use an automated valuation model after receiving the complaint and stood by the appraised value. none of the appraisers named in the complaint responded to nbc s request for comment. as for duffey, she used the
a discrimination complaint after the value of her house in indianapolis more than doubled when she hid her race from appraisers. nbc s priscilla thompson spoke to her and here is part of her report. her home was valued at $259,000 more than double that of her previous two appraisals. i screamed with joy. i was so elated and then it just it quickly dissipated, and then i just cried. duffy s experience isn t isolated. homes in black neighborhoods equivalent to their white counterparts and some are social circumstances, are underpriced by 23%, about 48,000 per home and that adds up to $156 billion in lost equity. this month duffy filed a complaint with the u.s. department of housing and urban development alleging discrimination in both her