Lost Equity News Today

Andre perry, senior fellio at the brookings institution, writes about it. >> we found homes in black neighborhoods are underpriced by 23%. theres about $156 billion in lost equity in black neighborhoods. $156 billion. >> and joe johns joins me now. joe, thanks for joining us. the austins are suing. what are they expecting to get out of the suit? >> they say they want an order about discrimination, but theres also the issue of damages. they lost the interest rate they were trying to get, around i...

The brookings institution, writes about it. >> we find homes in black neighborhoods are underpriced by 23%, about 48,000 cumulatively. about 156 billion in lost equity in black neighborhoods. 156 billion. >> and joe johns joins me now. joe, thanks for joining us. the austins are suing. what are they expecting to get out of the suit? >> reporter: well, they say they want an order about discrimination, but theres also the issue of damages. they lost the interest rate that they were trying to get. ...

Dissipated. then i just cried. >> reporter: duffys experience isnt isolated. >> homes in black neighborhoods, equivalent to white counterparts in similar social circumstances now are underpriced by 23%, about $48,000 per home. that adds up to $156 billion in lost equity. >> reporter: this month duffy filed a complaint with the u.s. department of housing and urban development, alleging discrimination in both her appraisal and lending process. >> you are taking away my familys ability to create ge...

Isnt isolated. >> homes in black neighborhoods equivalent to their white counterparts are underpriced by 23%, about $48,000 per home. that adds up to $156 billion in lost equity. >> reporter: this month, duffey filed a complaint with the u.s. department of housing and urban department, alleging discrimination in both her appraisal and lending process. >> you are taking away my familys ability to create generational wealth. >> reporter: in statements to nbc news, citywide home loans denied any di...

A discrimination complaint after the value of her house in indianapolis more than doubled when she hid her race from appraisers. nbcs priscilla thompson spoke to her and here is part of her report. >> her home was valued at $259,000 more than double that of her previous two appraisals. >> i screamed with joy. i was so elated and then it just -- it quickly dissipated, and then i just cried. >> duffys experience isnt isolated. >> homes in black neighborhoods equivalent to their white counterparts ...

And it takes a great deal of courage to be a moderate. you look at my friend, olympia. sometimes you have to buck your own party. what happens then if youre not 100% on one side or 100% on the other side, then they both come at you and its very difficult. >> you mentioned the economy and we have often gotten a little s accr askew off that topic. but weve learned the president is going to announce every service member wrongly foreclosed upon will be compensated for lost equity, plus interest. and...