James Wise and BiggerPockets Redlining?!?!?!

[Anthony Gayden]

I saw this article while browsing the web today.

https://www.citylab.com/equity/2018/11/redlining-cleveland-investors-home-prices/574153/

The blog, posted on the real-estate investment platform BiggerPockets, shows how Wise grades real estate for investors, grouping Cleveland’s neighborhoods into four color-coded categories: “A Neighborhoods,”shaded dark green; “B Neighborhoods”shaded light green; “C Neighborhoods,” shaded yellow; and “D/F Neighborhoods” shaded red.

Wise’s maps ring eerily similar to redlining maps, the color-grading system used by the Home Owners Loan Corporation (HOLC), the National Association of Real Estate Boards, and the Federal Housing Administration (FHA) in the early-to-mid 20th century to demarcate which neighborhoods were worthy of property investment. Redlining was technically outlawed by the 1968 Fair Housing Act because it facilitated racial and economic segregation in many U.S. cities, segregation that persists.

[James Wise]

Originally posted by @Anthony Gayden:

I saw this article while browsing the web today.

https://www.citylab.com/equity/2018/11/redlining-cleveland-investors-home-prices/574153/

The blog, posted on the real-estate investment platform BiggerPockets, shows how Wise grades real estate for investors, grouping Cleveland’s neighborhoods into four color-coded categories: “A Neighborhoods,”shaded dark green; “B Neighborhoods”shaded light green; “C Neighborhoods,” shaded yellow; and “D/F Neighborhoods” shaded red.

Wise’s maps ring eerily similar to redlining maps, the color-grading system used by the Home Owners Loan Corporation (HOLC), the National Association of Real Estate Boards, and the Federal Housing Administration (FHA) in the early-to-mid 20th century to demarcate which neighborhoods were worthy of property investment. Redlining was technically outlawed by the 1968 Fair Housing Act because it facilitated racial and economic segregation in many U.S. cities, segregation that persists.

 Thanks for posting this Anthony. I spoke to that reporter a week or two ago & was wondering what type of nonsense he'd post when he published his article. I checked google a few times but didn't see it until I got a BP keyword alert. It was clear from the beginning of the call that he was an extremist & was hell bent on painting me as a racist despite facts to the contrary. The guy has no knowledge of the Real Estate Industry, he couldn't comprehend that the income of a tenant base had a direct effect on the risk of the investment.