Tapping_the_Ethnic_Housing_Market

Tapping_the_Ethnic_Housing_Market - Opportunities and...

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Opportunities and Challenges for Housing Lenders and Realtors The text highlights some pretty significant differences between the general population and minority groups in regards to the housing market. I look at the tables and see clear differences, but let me take the road less traveled or read between the lines and suggest that the biggest challenge for lenders and realtors is the poverty trap created by housing discrimination. According to the U.S. Census Bureau, in 1990 25.3% of all Anglo-Americans in the U.S. lived in central city areas. The percentage of African Americans living in inner cities was 56.9%, and the percentage of inner city Hispanics was 51.5%. Asian Americans living in central cities totaled 46.3% (Wikipedia, 2011). Furthermore, the average white person living in a metropolitan area lives in a neighborhood that is 80% Anglo and 7% Black, while the average African American lives in a neighborhood that is 33% white and more than 51% black (Wikipedia, 2011). These statistics don’t necessarily point to evidence of housing discrimination, but rather to segregation based on historical reasons which have made minorities more economically deprived and prone to living in more poverty-stricken inner city areas (Wikipedia, 2011). In a comprehensive study by the U.S. Department of Housing and Urban Development (HUD) in 2000, paired-tests (in which two applicants of different races but the same economic status and credit scores apply to rent or buy a house) were used to determine whether or not statistics about segregation truly pointed to housing discrimination. This study reported that although adverse treatment of minorities has decreased over time, roughly 25% of white applicants were still favored above those who were African-American or Hispanic. About 17% of African American applicants and 20% of Hispanic applicants were subjected to adverse treatment, including receiving less information about a home or being shown fewer, lower-quality units (Wikipedia, 2011). John Yinger, a well-known sociologist and housing discrimination expert, argues that practices like these in the housing market have led to segregation and can be interpreted as forms of modern-day housing discrimination. An example of this is of realtors opting to place Public Housing in crowded inner city minority neighborhoods instead of those with an Anglo majority due to “public and political pressure (as cited in Wikipedia, 2011).” Yinger
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This note was uploaded on 02/18/2012 for the course HISTORY hs101 taught by Professor Lynch during the Spring '12 term at Dublin City University.

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Tapping_the_Ethnic_Housing_Market - Opportunities and...

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