Could your home appraisal be lower than it really was because of your ethnicity?
Do you need another one?
A CBC Marketplace test found that racial discrimination exists in the appraisal industry. They found that through a test with CBC employees of white, Black and South Asian background posed as homeowners of the same detached house in Oakville, Ont. Two appraisals were booked for each “homeowner,” and the visits were documented with hidden cameras.
Here are the results – the first Black appraisal was significantly lower, followed by the Indian, and then the White.
Always get a second opinion!
