Action Plan to Advance Property Appraisal and Valuation Equity: Closing the Racial Wealth Gap by Addressing Mis-valuations for Families and Communities of Color [open pdf - 8MB]
From the Executive Summary: "For many Americans, the dream of homeownership and the long-term financial security this investment represents is a dream deferred or unrealized. Homeownership is often hindered by inequities within current home lending and appraisal processes, which research shows disproportionately impact people in communities of color. [...] This 'Action Plan to Advance Property Appraisal and Valuation Equity (PAVE)' ('the Action Plan') is the blueprint for how all Americans can benefit fairly from the equity built through homeownership. Specifically, this Action Plan: 1. Outlines the historical role of racism in the valuation of residential property; 2. Examines the various forms of bias that can appear in residential property valuation practices; and 3. Describes affirmative steps that federal agencies will take to advance equity in the appraisal process, and outlines further recommendations that government and industry stakeholders can initiate."
Interagency Task Force of Property Appraisal and Valuation Equity: https://pave.hud.gov/