A Black couple's lawsuit against a home appraisal company is now catching the attention of the Department of Justice.
Last week, the DOJ filed a statement of interest in the couple's claim that the first appraiser of their Marin County home violated the Fair Housing Act. Tenisha Tate-Austin and her husband, Paul Austin, say they were victims of appraisal bias. After spending months on renovations, a White appraiser valued their home much lower than they had anticipated, the couple told CNN in December. When a White friend showed the couple's home as her own, its appraisal rose $500,000.
Devaluation -- the percent discount value between homes in neighborhoods with a 50% Black population and those with no Black residents -- is detrimental overtime. The more devaluation allows for more segregation and less opportunities for upward mobility, the analysis found.
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