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Realtors Are Sorry About All the Discrimination
Bloomberg Businessweek
|December 27, 2021 - January 03, 2022 (Double Spread)
The National Association of Realtors wants to make amends. As long as it doesn’t have to talk about that 6% commission
Real estate agents helped create today’s deeply segregated communities. In the 1930s they provided the raw neighborhood intelligence, using starkly racist language about “negroblighted” districts and the “infiltration of undesirable racial elements,” that aided in the creation of the infamous redlining maps denying federally backed loans to people of color. They came up with the idea of loading property deeds with restrictive covenants that kept Black people out of the most desirable neighborhoods. The NAR’s predecessor organization opposed the Fair Housing Act of 1968, which barred discrimination in home sales. In case that all sounds like ancient history, multiple instances of members airing racist views on social media in 2020 led the group to adopt a formal code barring hate speech.
This story is from the December 27, 2021 - January 03, 2022 (Double Spread) edition of Bloomberg Businessweek.
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