Biden administration tackles racial bias in home appraisals

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The White House on Wednesday announced new actions to counter racial and ethnic bias in home valuations.

Vice President Kamala Harris unveiled a 21-point plan that seeks to help homeowners impacted by bias in the appraisal process during an event with Housing and Urban Development Secretary Marcia Fudge and Domestic Policy Advisor Susan Rice. The plan was developed by a recently formed inter-agency task force called Property Appraisal and Valuation Equity (PAVE).

"A home is more than just a roof over your head and a place to live -- those are essential needs. But a home represents, in addition to that, so much that is about financial security. That is about the potential to build intergenerational wealth," Harris said. "We don't want to have a system that denies people an ability to have that goal simply because there is bias in the system."

She added that the administration is "fighting to make sure every person, no matter where they live, or who they are, has an opportunity to not only succeed, but to thrive."

President Joe Biden announced the formation of the PAVE task force last June as part of a series of initiatives that seeks to fix inequities in the US.

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1. MVP Harris on Home Appraisal reform

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