| Across the US, homes in neighborhoods of color have historically been appraised at lower values than comparable homes in white neighborhoods. Guidance introduced during the Biden era allowed homeowners to challenge appraisals and root out bias, but the Trump administration has recently taken steps to roll that back. It turns out, the shift in Trump’s policy may not have that much impact on the industry: Some of the biggest US mortgage lenders say they won’t change their own practices. One bank, New American Funding, reports that about 22% of customers who take the opportunity to dispute their property appraisals find that the value of their home had been miscalculated. Inaccurate appraisals can negatively impact both borrowers and lenders. Home ownership is the top wealth-creation tool in the US — and an appraisal is a key determinant of how much, if anything, someone can borrow, writes Emily Flitter. Today on CityLab: Why Mortgage Lenders Are Ignoring Trump’s Rollback on Home Appraisal Reviews.
— Arvelisse Bonilla Ramos The Racial Wealth Gap Is Not Just About Money
A new book measures Black wealth through quality-of-life metrics to show that property ownership is connected to longer life expectancy. Can Data Centers Help Keep Architecture Firms Afloat?
Spending on data centers increased 50% last year and is projected to keep rising, but there are limits to how many of these centers the tech industry can build. Free Air Conditioner Programs Help Amid Life-Threatening Heat
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