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A Racist Past, a Flooded Future: Formerly Redlined Areas Have $107 Billion Worth of Homes Facing High Flood Risk--25% More Than Non-Redlined Areas

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SEATTLE, March 15, 2021 /PRNewswire/ (NASDAQ: RDFN) Americans living in formerly redlined neighborhoods many of whom are people of color are more likely than those living in non-redlined neighborhoods to see their homes jeopardized by water damage, according to a new
redfin.com), the technology-powered real estate brokerage.
There are $107 billion worth of homes at high risk of flooding in parts of the U.S. that were designated undesirable for mortgage lending under the racist 1930s-era practice known as redlining, according to a Redfin analysis of flood risk by redlining grade in 38 major U.S. metropolitan areas. That compares with $85 billion worth of homes at high risk of flooding in places that were deemed desirable for lending. ....

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A Racist Past, a Flooded Future: Formerly Redlined Areas Have $107 Billion Worth of Homes Facing High Flood Risk–25% More Than Non-Redlined Areas

There are
$107 billion worth of homes at high risk of flooding in parts of the
U.S. that were designated undesirable for mortgage lending under the racist 1930s-era practice known as redlining, according to a Redfin analysis of flood risk by redlining grade in 38 major
U.S. metropolitan areas. That compares with
$85 billion worth of homes at high risk of flooding in places that were deemed desirable for lending.
This disproportionately impacts people of color, who are more likely to live in formerly redlined areas than in formerly greenlined areas. Today, 58.1% of households in neighborhoods that were once designated undesirable for mortgage lending are non-white, compared with 40.4% of households in neighborhoods that were labeled desirable for lending. ....

United States , New York , South Chicago , Miami Beach , Sheharyar Bokhari , Cecilia Cordova , Sacramento Gardenland , Lamar Austin , Brittani Walker , Redfin Data Center , Florida Bucks The National Trend , Us Census Bureau , Home Owner Loan Corporation , Black Americans , Hurricane Katrina , Hurricane Harvey , Hispanic Americans , Tops List , Bronzeville Neighborhood , Basement Flooding Plagues Black Homeowners , First Street Foundation , Great Migration , National Trend , With High , Virginia Beach , Insurance News ,