Black couple says home value was underestimated by half a million dollars because of their race

A Black couple in Northern California says an appraiser undervalued their home by nearly half a million dollars because of their race. They took the unusual action of asking a White friend to show the home for a second appraisal, which was significantly higher. Anna Werner has the story.

Each weekday morning, "CBS Mornings” co-hosts Gayle King, Tony Dokoupil and Nate Burleson bring you the latest breaking news, smart conversation and in-depth feature reporting. "CBS Mornings" airs weekdays at 7 a.m. on CBS and 8 a.m. ET on CBSN.

[chuckminzenberger]

the appraiser that was +/-40% off should loose their license. two independent appraisers will never completely agree on a value, but this price gap is unbelievable

[SF-zcmm]

If she could take $500, 000 out of the black community in one go, imagine how much that one person has taken from black intergenerational wealth in their entire career. This needs to be taken more seriously.

[Jinx]

I'll never understand racism or the way people needlessly hurt other people. They seem like a very nice couple. Why wouldn't you want to help them get the best deal?

[Chazyacom]

We all should be able to build wealth, this is messed up.

[crystal]

I hope they win! The same thing happened to me. I’m glad this is in the news

[kamilm]

I hope the company goes flat! Imagine how evil you have to be to do something like this to hard working folks! Please keep us updated on this situation.

[redwoods]

What people need to know is that they live 20 minutes north of San Francisco in Marin County right next door to Sausalito. Prime California property that couldn’t possibly be appraised for less than a million dollars.

[leahgary]

It's unfair how much inequality we have in this country due to racism. 😔

[kingtutankhamun]

I hope they find justice but most people can't even afford a $1M house. They are a financially successful Black couple blessed with beautiful children & shouldn't let this ruin their enjoyment of their home.

[makeitmakesense]

Its stuff like this that messes with your mind. Like you want to believe it aint true but truth is in the pudding. Its heartbreaking, exhausting and mental F

[coachruss]

Nothing new here folks....This is America! The race card is always in the deck....

[lf]

That's AMERIKKKA in a nutshell. This exists in EVERYTHING across the board, sick country

[sonyabolden]

Same thing happened to my mother in the 90s. She knew the appraisal was off. Mom removed all "black related" artwork & pics and the next appraiser gave a more accurate number.

[carsondouglas]

This is why im going to school to be an appraiser👨🏿‍🎓

[BxMel]

the “system” doing exactly what it was designed to do

[EnronnSierra]

They should have gotten a white gay couple, probably would go for 3.5 million.

[joelpedrazzini]

Call another appraisal company.

You will never win the battle against stupidity, maybe you can beat one, but you’ll find thousands of them After him.

[janicelumpkin]

Racism will always be ACTIVE in America 😢

[SimplyAdiva]

We have a long way to go and this is still happening. As a Black Real Estate Broker, I've been on several real estate forums and noticed several people advocating for more Black appraisers to come in the industry. Hopefully we will see some changes.

[lifeissuchablast]

I’m so proud families are standing up and speaking out.