Report finds racial discrepancies in upkeep of foreclosed properties
Thursday, April 05, 2012
- Organization: NY Times
Banks and lenders have maintained and marketed foreclosed properties far better in white neighborhoods than in minority neighborhoods, according to a report released Wednesday by the National Fair Housing Alliance.
Investigators for the group evaluated more than 1,000 foreclosed properties in nine metro areas around the country — Atlanta; Baltimore; Dallas; Dayton, Ohio; Miami/Fort Lauderdale; Oakland, Calif.; Philadelphia; Phoenix; and Washington.
They found that properties in predominately black and Latino neighborhoods were far more likely than those in predominately white areas to be left in disrepair, with maintenance problems such as broken or boarded-up windows, unkempt yards, water damage and unsecured entrances. In addition, foreclosed properties in minority neighborhoods were routinely less likely to have for-sale signs than those in white communities.