Kamala Harris Highlights Ongoing Inequality in Home Appraisals.
Vice President Kamala Harris announced new actions to eliminate racial bias from the home appraisal industry, including ensuring unbiased data is used in appraisal software, providing a clearer pathway for homeowners to challenge unfair appraisals, and increasing transparency of federal appraisal statistics. The administration will also publish a dashboard showing which states impose overly stringent requirements for becoming an appraiser, reducing unnecessary barriers that deter Black would-be appraisers from entering the industry. The move comes after reports of discrimination against Black homeowners in the appraisal industry, where 97% of appraisers are white, and homes in neighborhoods where residents are majority Black are appraised at half the value of homes in neighborhoods where residents are primarily white.