NY lawmakers want more transparency from co-ops

Lawmakers in New York are trying to push through a bill that would force co-op boards to explain why they reject potential buyers of their apartments. The bill is meant to prevent discrimination by co-ops when they make such decisions, proponents of the new law say. If the state senate bill is approved, it would

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New York can now revoke licenses from real estate pros that discriminate

New York Governor Andrew Cuomo on Monday signed into law new legislation that makes it possible for the state to revoke real estate licenses from agents and brokers who violate anti-discrimination laws. Cuomo said New York has “zero tolerance” for discrimination of any kind and that the “sheer scope and breadth of the unscrupulous and

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Study shows black homeowners pay higher property taxes

A new analysis from economists Troup Howard of the University of Utah and Carlos Avenancio-Leon of Indiana University has found that black households on average pay 13% more in property taxes every year than white households with similar finances. The analysis, published in a working paper, says that homes owned by black families tend to

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LGBT buyers can’t afford homes in areas with protection from discrimination

Lesbian, gay, bisexual, and transgender home-buyers and renters must pay a premium to live in states, cities and counties that offer legal protection from discrimination. While it is unlikely that legal protections for LGBT people increase home values, the fact that these jurisdictions are more expensive has a disproportionate impact on LGBT buyers and renters

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Digital mortgage applications result in less discrimination, study finds

Digital mortgage applications are having the positive effect of reducing discrimination of black and Latino home buyers, a new study shows. The study, by the National Bureau of Economic Research, reveals that algorithmic lending reduces discrimination by up to 40% compared to applications which are dealt with face-to-face. With digital mortgage applications, the interest rates

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HUD’s proposed rule change could limit housing discrimination lawsuits

The Department of Housing and Urban Development is proposing a change to its fair housing rules, but critics say the move could result in less discrimination lawsuits. The HUD has proposed a change in its regulations that would do away with the so-called “Disparate Impact rule”, which is often used as a way of enforcing

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Activists push to end housing discrimination against ex-cons

A number of U.S. cities are taking action to prevent landlords from denying applications from previously convicted criminals. For example, in Cook County, officials there recently approved a new ordinance that aims to help those with criminal convictions find housing within Chicago more easily. In fact, several big cities in the U.S. are pushing for

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Why writing a personal offer letter may not be such a great idea

Demand for homes in some parts of the country is so great that many of the best listed properties are subject to so-called bidding wars, with numerous buyers all vying to get the seller’s attention. In some cases, bidders are even writing personal offer letters directly to sellers to try and win them over. But

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Study: Mortgage lenders make it tougher for same-sex couples

Same-sex couples are much less likely to be approved for a mortgage than heterosexual couples, according to a new study by researchers at Iowa State University’s Ivy College of Business, which was published in the Proceedings of the National Academy of Sciences. The researchers found that same sex couples’ approval rate for a mortgage was

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Discrimination is the top concern for LGBT home buyers, survey finds

Freddie Mac researchers have revealed that members of the lesbian, gay, bisexual and transgender community often try to seek “LGBT-safe” neighborhoods when buying a home, as they fear being discriminated against. The findings come from a survey of more than 2,300 consumers, and reveal that LGBT community members are, on the whole, positive about homeownership.

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