The mortgage industry has long been a sector plagued by disparities in access and opportunity, and a recent report appears to confirm this. According to RealtyHop, an analysis of Census Bureau data showed that nearly one-third of Hispanics and 32% of Blacks experienced discrimination when searching for a home, levels 6-8% higher than their White counterparts.
These high levels of discrimination is in stark contrast to ongoing progress being made in other areas of the housing industry. For example, a separate report from the National Association of Realtors showed record minority buyers in home sales activity for 2020, with Black and Hispanic homebuyers experiencing increases of 7.5% and 8.4% over the previous year.
In summary, while there has been some push towards equality in the housing industry, the continued discrimination experienced by minorities in their house search shows that there is still a significant gap to bridge.
Bullet Points:
-According to RealtyHop, 36% of Hispanics and 32% of Blacks reported facing discrimination when searching for a home compared to only 6-8% of their White counterparts.
-In contrast, the National Association of Realtors showed record minority buyers in home sales activity for 2020, with Black and Hispanic homebuyers experiencing increases of 7.5% and 8.4% respectively.
-Discrimination in home searches shows there is still a gap to bridge in the quest for equality in the housing industry.
You can read this full article at: https://www.housingwire.com/articles/non-white-homebuyers-feel-discrimination-despite-laws-against-it-redfin/(subscription required)
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