According to a new study by the National Bureau of Economic Research, historical biases lead to minority homebuyers paying an average of 3.5 percent more for their homes than whites, reports Matt Bevilacqua.
Although the practice of overt housing discrimination based on race and religion was outlawed long ago, its effects live on in segregated neighborhoods and significantly lower homeownership rates among minorities. "Now, researchers have found another economic barrier to minorities who want to buy a house: Blacks and Latinos pay an average of 3.5 percent more for homes than whites, according to a National Bureau of Economic Research report that was re-released this month."
"According to the report, a minority family’s income, wealth and access to credit had little to do with the higher prices they paid for homes. And outright racism on the part of sellers didn’t play the obvious role that one might think."
"Instead, the racial disadvantage in homebuying appears seeded in historical biases," says Bevilacqua. "The heretofore low homeownership rates among blacks and Latinos could be having a lingering effect, leading to a catch-22 that prevents first-time homeowners from landing a fair price, even when purchasing from people of the same race."
FULL STORY: Black and Latino Homeowners Pay More Than Whites, Study Finds
Pennsylvania Mall Conversion Bill Passes House
If passed, the bill would promote the adaptive reuse of defunct commercial buildings.
World's Largest Wildlife Overpass In the Works in Los Angeles County
Caltrans will soon close half of the 101 Freeway in order to continue construction of the Wallis Annenberg Wildlife Crossing near Agoura Hills in Los Angeles County.
U.S. Supreme Court: California's Impact Fees May Violate Takings Clause
A California property owner took El Dorado County to state court after paying a traffic impact fee he felt was exorbitant. He lost in trial court, appellate court, and the California Supreme Court denied review. Then the U.S. Supreme Court acted.
California Grid Runs on 100% Renewable Energy for Over 9 Hours
The state’s energy grid was entirely powered by clean energy for some portion of the day on 37 out of the last 45 days.
New Forecasting Tool Aims to Reduce Heat-Related Deaths
Two federal agencies launched a new, easy-to-use, color-coded heat warning system that combines meteorological and medical risk factors.
AI Traffic Management Comes to Dallas-Fort Worth
Several Texas cities are using an AI-powered platform called NoTraffic to help manage traffic signals to increase safety and improve traffic flow.
City of Costa Mesa
Licking County
Barrett Planning Group LLC
HUD's Office of Policy Development and Research
Mpact Transit + Community
HUD's Office of Policy Development and Research
Tufts University, Department of Urban and Environmental Policy & Planning
City of Universal City TX
ULI Northwest Arkansas
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.