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Appraisals Referencing Gentrification

Started by FreebirdNYC
about 12 years ago
Posts: 337
Member since: Jun 2007
Discussion about
Hi - quick question. Can an appraiser legally reference "gentrification" in forming his opinion? (e.g. discounting a property relative to the comps because comps are in an area that are "more gentrified"). Would think this would violate fair housing standards...
Response by alanhart
about 12 years ago
Posts: 12397
Member since: Feb 2007

The gentry are a protected class. He should specify "yeomanization" instead.

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Response by ab_11218
about 12 years ago
Posts: 2017
Member since: May 2009

Gentrification has come to mean something that is different from 20 yrs ago. It says that the neighborhood is improving. Doesn't mean that there are more "white" people here now.

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Response by front_porch
about 12 years ago
Posts: 5316
Member since: Mar 2008

I can truly see this one going either way. It seems to me that FDB below 125th has newer housing stock and better retail than neighboring avenues. So one could say, in a sort of objective fashion, that it's "more gentrified."

So the question would be, are the residents/tenants of that newer housing stock of a different ethnic makeup, or religion, or sexual orientation (or whatever protected class you would want to cite) than the residents of the neighboring avenues? If so, then yes, one could argue that "more gentrified" is a coded reference to that difference, and thus a Fair Housing violation.

There are people who work for the city who are really good at explaining all this -- you might want, as a first step, to call 311.

ali r.
DG Neary Realty

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Response by jason10006
about 12 years ago
Posts: 5257
Member since: Jan 2009

"Gentrification has come to mean something that is different from 20 yrs ago. It says that the neighborhood is improving. Doesn't mean that there are more "white" people here now."

Its NEVER ever meant, in literal terms, "whiter." People may have read into such, but the literal dictionary definition is "to change (a place, such as an old neighborhood) by improving it and making it more appealing to people who have money"

http://www.merriam-webster.com/dictionary/gentrify

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Response by fieldschester
about 12 years ago
Posts: 3525
Member since: Jul 2013

>"Gentrification has come to mean something that is different from 20 yrs ago.
>http://www.merriam-webster.com

Please, 20 years ago they didn't even have merriam-webster.com.

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Response by columbiacounty
about 12 years ago
Posts: 12708
Member since: Jan 2009

is your family embarrassed by your problem?

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Response by walpurgis
about 12 years ago
Posts: 593
Member since: Feb 2009

Let's not kid ourselves: It may have never literally meant "whiter", but that's EXACTLY what it's come to mean.

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Response by walpurgis
about 12 years ago
Posts: 593
Member since: Feb 2009

And if it means in the emaciated, pasty & clueless hipster sense, it is beyond insulting that that's considered a positive.

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