NAR apologizes for housing discrimination

Homeownership rate among Black Americans lags far behind that of whites

National /
Nov.November 20, 2020 12:03 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
Joan Collins and 110 East 57th Street #8EFG (Getty, BHS)

Soap star Joan Collins lists longtime Midtown pied-à-terre

Soap star Joan Collins lists longtime Midtown pied-à-terre
Jenna Ryan was part of a group who flew on a private plane from Denton, TX, to Washington, D.C., with the intention of joining the protestors (Twitter.com/DotJenna)

Texas Realtor faces criminal charges for role in Capitol attack

Texas Realtor faces criminal charges for role in Capitol attack
Porch CEO Matt Ehrlichman (iStock)

Porch snaps up four startups for over $122M

Porch snaps up four startups for over $122M
Damien Dwin of Lafayette Square Holding (Photos via Lafayette; iStock)

Sustainable housing is focus of Damien Dwin’s social justice effort

Sustainable housing is focus of Damien Dwin’s social justice effort
Mortgage applications reach pandemic peak

Mortgage applications reach pandemic peak

Mortgage applications reach pandemic peak
From left: Lionheart's Ophir Sternberg, Fifth Wall's Brendan Wallace, Chamath Palihapitiya, Supernova Partners' Spencer Rascoff and Proptech Acquisition II's Tom Hennessy (Getty, LinkedIn, iStock)

These blank-check firms are courting proptech deals

These blank-check firms are courting proptech deals
From left: Sen. Roger Marshall, Sen. Josh Hawley, Sen. John Kennedy, Sen. Ted Cruz and Senator Cindy Hyde-Smith (Getty, iStock)

National Association of Realtors among biggest donors to “sedition caucus”

National Association of Realtors among biggest donors to “sedition caucus”
Tom Ford's Cerro Pelon Ranch. (Getty, Kevin Bobolsky Group)

Tom Ford sells Tadao Ando-designed estate in New Mexico

Tom Ford sells Tadao Ando-designed estate in New Mexico
arrow_forward_ios

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

Loading...