TMZ.com
A Black couple’s hoping their current settlement of a lawsuit turns into a sport changer in actual property — one which forces appraisers to stop lowballing residence values for Black and brown householders.
Paul Austin and Tenisha Tate-Austin made headlines a couple of years in the past when an appraisal agency valued their Northern California at $995K. Feeling like that quantity was too low, they requested a white buddy to fake they lived in the home … and out of the blue, the appraisal got here in at $1.48 million.
That $500k distinction prompted the Austins to sue the appraisal agency for discrimination.
The couple joined us Friday on “TMZ Live” to debate their settlement within the case, for an undisclosed quantity, and stated their purpose was all the time to carry of us accountable for what they noticed as clear racial bias.
Paul and Tenisha identified POC have been cheated out of actual property wealth for generations … largely as a result of systemic racism — be it acutely aware or unconscious — regardless of the truthful housing regulation being handed within the ’60s.
Going ahead, they hope to be a cautionary story for residence appraisers — letting the trade know there may very well be penalties for perpetuating these historic biases.
As for present and future householders … the Austins dropped some knowledge they will, and will, keep in mind ought to they discover themselves in the identical sitch.