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If true, this sounds like an amazing arbitrage opportunity? Buy a home at a 33% discount from a black owner, then sell it as a white owner for an instant profi
by refurb 4y ago
If true, this sounds like an amazing arbitrage opportunity?
Buy a home at a 33% discount from a black owner, then sell it as a white owner for an instant profit.
No doubt people are lined up to do this right now.
- UncleEntity 4y agoIt doesn’t really matter what the house is appraised at, the only way to tell its true value is what someone is willing to buy it for. Not some theoretical number either, what someone gives them actual cash money in exchange for the deed for. Anything other than that is just, like, someone’s opinion, man…
- refurb 4y agoRight, it’s only an appraisal, but mortgages are dependent on appraisals so you’d expect it to push the actual selling price down.
- nexthash 4y agoYes, it is called the gentrification of minority neighborhoods.
- roflyear 4y agoIs this a snide way to suggest it is false?