NAR apologizes for housing discrimination

Homeownership rate among Black Americans lags far behind that of whites

National /
Nov.November 20, 2020 12:07 PM
National Association of Realtors president Charlie Oppler (Photo via NAR; iStock)

National Association of Realtors president Charlie Oppler (Photo via NAR; iStock)

The National Association of Realtors has issued an historic apology for its role in housing discrimination, but some say it falls short.

Charlie Oppler, the president-elect of NAR, which represents 1.4 million real estate professionals, said realtors have contributed to inequality, which he described as an “outrage to our morals and our ideals,” Bloomberg News reported.

The Black homeownership rate is just 46 percent as of Sept. 30, compared to 67 percent for all U.S. households and 76 percent for white households, according to the Census Bureau.

“We can’t go back to fix the mistakes of the past, but we can look at this problem squarely in the eye,” said Oppler, who is the CEO of Prominent Properties Sotheby’s International Realty in Franklin Lakes, New Jersey. “And, on behalf of our industry, we can say that what realtors did was shameful, and we are sorry.”

The organization’s past mistakes include opposing the Fair Housing Act in 1968 and barring black members from joining the group. Their exclusion led to the formation in 1947 of the National Association of Real Estate Brokers, which promotes Black homeownership.

More recently, NAR found itself in the crosshairs after a bombshell investigation from Newsday found that brokers on Long Island routinely steered Black homebuyers away from white neighborhoods. The report spurred swift action from elected officials, who demanded an apology from the real estate industry.

Donnell Williiams, president of the National Association of Real Estate Brokers, said the industry apology was insufficient, and did not offer reparations to Black homeowners.

“The difference of Black-American wealth and white wealth is tied directly to homeownership,” Williams told Bloomberg. “They manipulated the entire system.”

[Bloomberg] — Georgia Kromrei


Related Articles

arrow_forward_ios
Gables Town Colony apartment complex, Sue Ansel of Gables Residential

Gables Residential scores $85M loan for Boca Raton apartment complex

Gables Residential scores $85M loan for Boca Raton apartment complex
Broadstone City Center with Alliance Residential’s Bruce Ward and Nuveen CEO Jose Minaya

Nuveen pays $103M for West Palm luxury apartments

Nuveen pays $103M for West Palm luxury apartments
Edmund Ansin and the property (Credit: Google Maps)

Billionaire TV family sells Miramar property to Florida Crystals

Billionaire TV family sells Miramar property to Florida Crystals
Toscana apartments and Juan Porro of FCI Residential

Florida Crystals sells Margate rentals for $60M

Florida Crystals sells Margate rentals for $60M
From left: Andrea and Renzo Rosso

Diesel family dishes on Wynwood condo project

Diesel family dishes on Wynwood condo project
 4601 Le Jeune Road, Jose Boschetti and Maurice Boschetti

Gables Residential sells dev site near Shops at Merrick Park

Gables Residential sells dev site near Shops at Merrick Park
Greg Pinkalla and ORA Flagler Village Apartments (Credit: Google Maps)

Fairfield Residential sells new Flagler Village apartments for $92M

Fairfield Residential sells new Flagler Village apartments for $92M
Construction of downtown Hollywood high-rise may start soon

Construction of downtown Hollywood high-rise may start soon

Construction of downtown Hollywood high-rise may start soon
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...