Homeowners in historically redlined neighborhoods gained less than half as much home equity over the past 40 years as elsewhere, a study by home listing service Redfin has found.
Homeowners gained far less equity in formerly redlined areas: study
In neighborhoods where redlining was practiced, lenders would draw a “red line” around neighborhoods that, based on demographics, were deemed too risky for federal mortgage loans. Instead of the cheap federal financing available to white families, black homeowners had to seek more expensive loan…
