The National Association of REALTORS® (NAR) issued the following statement on June 1 as President Joe Biden traveled to Tulsa, Oklahoma, to mark the 100th anniversary of the Tulsa Race Massacre and unveil new initiatives designed to close racial wealth gaps. The administration’s proposals focus primarily on expanding opportunities for small business and homeownership.
“The horrific acts of violence and property destruction that occurred in Tulsa 100 years ago, and the subsequent public and private policies that frustrated the recovery of ‘Black Wall Street,’ help illustrate why racial wealth gaps persist in America today.
“We commend the Biden Administration for its commitment to closing the gap, specifically by focusing on the intergenerational wealth building opportunities offered by property and homeownership.
“NAR is particularly encouraged by the administration’s most recent efforts to address inequities in the home-appraisal process, and we support a thorough review of the current appraisal system alongside both public and private stakeholders. We look forward to working with the White House and HUD on other upcoming rulemakings that seek to more effectively combat housing discrimination and redress the legacy of residential racial segregation.” — NAR President Charlie Oppler
For more information, please visit www.nar.realtor.