Economy

STUDY: African Americans, Latinos Pay 3 Percent More Than Whites For Homes

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African Americans and Latinos pay 3 percent more than white homebuyers for their homes, according to a study of from the National Bureau of Economic Research that looked at two million home sales in four cities. The higher prices were not tied to income, wealth, or credit rating, suggesting discrimination may be a factor, the study said. Black and Latino buyers are also likely to spend less time looking for houses because of the “expectation of discrimination,” another factor in higher prices. As ThinkProgress has previously noted, blacks and Latinos were twice as likely to have been affected by the housing crisis after banks and mortgage servicers were found to use discriminatory practices in issuing loans. (HT: Suzy Khimm)