There’s a national news story that was circulating across all major outlets recently.
A black couple in California is suing a home appraisal company for housing discrimination.
The cliff notes version: they spent thousands on house renovations in order to increase the property value before they had it appraised – like any homeowner would.
The appraiser came, did their thing and then the value came back significantly lower than what they anticipated and what other houses in the area were valued.
So, what did the couple do?
They ‘white-washed’ their home to remove any cultural references, including pictures of themselves. Then they asked a white friend to come and pretend to own the house when a second appraiser came.
That second appraiser valued the house at $500,000 more than the first.
This is just one example of decades-worth of discrimination and bias towards black homeowners.
The true tragedy is that this is only one example of hundreds (or maybe thousands) of others who have had similar things happen except without justice or media attention to help call it out.
There’s a huge amount of systemic racism in every arena of our financial system when it comes to communities of color.
If we’re not seeing it, we’re not looking.
I’m focusing on this one situation this week because it so clearly exemplifies reality.
And I want to focus on how we are feeling and approaching this conversation. Especially, white people.
We’ve been raised in particular ways, to hold particular beliefs, and it’s harming communities of color.
We have the power to use our white advantage to change the system. So, let’s do that.
But we have to start to solve the shit inside of us because nothing will ever change externally without first challenging ourselves.
We need to check and correct our white bias.
Here’s the 3-2-1 on our place and perspective in perpetuating systemic racism.
3 TRUTHS
- Blatant racism is happening in our financial systems and it has to stop. We have to call it what it is and not make excuses for racist behavior or turn away and call these things mistakes. They aren’t mistakes. We have to own our own white bias and how it contributes to the problem.
- The world of money is complex enough already. Add to it racism, trauma, and bias (passed down for generations) and we can see it’s going to take work and won’t be easy to change. We have to take the time, be aware of it, and change it for ourselves and not just pass it down as someone else’s problem. This is our problem.
- We live in an abundant world. We have to get to a place where we understand that the opportunities and resources available to us don’t need to preclude someone else from the same access. There’s enough for all of us but until we see that and live by it, we’ll never get what we want. We have to band together.
2 ACTIONS
- Consider one belief about a community of color you inherited from someone else and research it.
- Re-evaluate your belief based on new information and draw your own conclusion.
1 QUESTION
- In what ways are your own racial biases showing up within your business?
This money conversation continues on YouTube. Check out How racism almost cost this family half a million dollars to understand how systemic racism (often unseen by those of us in the group of advantage) is undermining everyone’s success. Make sure to subscribe while you’re there.
Tackling the biases inherent in our money conversations (both against others and ourselves) is something we tackle when you and I work together. Because it isn’t just impacting how you view others and the world, it’s impacting how you view yourself, your ability to obtain wealth, and your legacy. We absolutely must rewrite the programs.
If you’re ready to do the deep work of seeing yourself and wealth differently, talk to me.
To your impact and legacy,
