The global conversation surrounding race and discrimination has reached a new level, and it’s important for industries across the board to take this opportunity to learn and grow. This is not a simple issue. There are many challenges that both individuals and businesses will face as they move forward to eradicate discriminatory systems.
In the real estate industry, there is one historical example of systemic racism that can help put this into perspective: redlining, which involved housing policies that discriminated against Black Americans. Banks and other financial institutions engaged in redlining by limiting mortgages to specific customers in specific neighborhoods. This practice prevented Black Americans from buying homes, resulting in a snowball effect that impacted jobs, education, safety, and access to food, amenities, and services.
Over time, legislation like the Fair Housing Act and Home Mortgage Disclosure Act were developed to minimize this blatant discrimination—but unfairness was not eliminated altogether. As awareness around equality and justice rise and we look at some of the recent history surrounding these issues, it is time to ask ourselves: What can we do to help foster equality, diversity, and inclusivity in the real estate industry?
As you explore the different ways you can participate in this conversation and put plans in place to positively contribute to diversity and equality, it is important to remember that directing your individual actions is most under your control.
Educate yourself on history at the national, state, and local levels. Change starts with understanding the practices and problems that got us to where we are today. Read more...