$156 Billion in Lost Value
The devaluation of assets in black neighborhoods
This report seeks to understand how much money majority-black communities are losing in the housing market stemming from racial bias, finding that owner-occupied homes in black neighborhoods are undervalued by $48,000 per home on average, amounting to $156 billion in cumulative losses.
This analysis finds a positive and statistically significant correlation between the devaluation of homes in black neighborhoods and upward mobility of black children in metropolitan areas with majority black neighborhoods.
If you’re looking for a dry weekend read, download the PDF of the full 2018 report to get full citations and many more details on the methodology.