Thread by @ThemOnPrime

Before we dive even deeper into #RaceAndRealEstate in America, let’s first talk a little bit about its history.

QUESTION 5:
How has real estate (specifically in the United States) transformed over the years?
#RaceAndRealEstate

Due to racial redlining and blockbusting existing for decades, our government put laws in place to safeguard the community. The Fair Housing Act of 1968 prohibits discrimination of race, color, national origin, religion, sex, familial status, and disability. #RaceAndRealEstate

Fair Lending Laws and The Equal Credit Act are also supposed to prohibit discrimination based on credit. #RaceAndRealEstate

QUESTION 6:
What are some challenges Americans have faced when purchasing homes?
#RaceAndRealEstate

The common complaint deals with getting pre-approved for a mortgage, and subsequently going through the lending process, which can be very tedious and intrusive, however necessary. #RaceAndRealEstate

Other challenges include competing in bidding wars for homes. When it’s a tough market, it can be a challenge for people looking to purchase a home. It can be particularly taxing on first-time home buyers who are not often cash heavy or as flexible with budget. #RaceAndRealEstate

QUESTION 7:
What challenges have Black Americans and other people of color specifically faced when purchasing homes over time?
#RaceAndRealEstate

Many Black homebuyers have felt they were discriminated against at some point in their home-buying process. They can’t necessarily prove it, which poses a bigger issue. If you have proof, you can at least sue for discrimination. #RaceAndRealEstate

However, it’s harder when you believe you have been treated or rated differently simply because you are Black, but you just cannot prove it, because it was not material or overt. #RaceAndRealEstate

Discrimination can be damaging in echoing ways. In lending, a higher interest rate on a 30-year mortgage can cost a family tens of thousands of dollars over the life of the loan. #RaceAndRealEstate