Homeowners in redlined neighborhoods earned 52% less in home equity in last 40 years

A recent report by Redfin found that redlining, the racist housing policy that first began preventing Black families from securing home loans almost 90 years ago, is still impacting the fortunes of Black homeowners today. “The typical homeowner in a neighborhood that was redlined for mortgage lending by the federal government has gained 52% less—or $212,023 less—in personal wealth generated by property value increases than one in a greenlined neighborhood over the last 40 years,” writes the report’s author, Dana Anderson. Black homeowners, Anderson explains, are almost five times more likely to own in a formerly redlined neighborhood than in a greenlined neighborhood. Much of the economic equality faced by Blacks in America can be traced back to the diminished home equity that results from this redlining hangover. As many white homeowners discovered decades ago, home equity is one of the most powerful tools f