Blacks twice as likely as whites to have mortgage loans denied
Although denial of mortgage loans is at its lowest in 20 years, black applicants are still twice as likely as whites to get their requests for a conventional loan denied, according to The Real Deal.
The gap was more striking in New York, where white borrowers had an 8.8 percent denial rate but black borrowers had a 22.2 percent denial rate, The Real Deal reported. Nationwide, borrowers in suburban areas were the most likely to get approved for mortgages, with an 8.4 percent denial rate; compared to a 10 percent denial rate for urban residents and an 11.5 percent denial rate for rural residents. The Real Deal’s figures came from Zillow, an online source of real estate listings and statistics nationwide. Zillow senior economist Aaron Terrazas called the gap “a visible legacy of historical discriminatory policies.”
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Street artists cover Underhill site with murals
Art curator Jeff Beler recently returned to Prospect Heights for this sixth installment of his biannual, daylong painting event called “Underhill Walls.” Some of the most celebrated street artists in the tri-state area went to work beautifying Underhill Avenue and St. John’s Place, according to Bkreader. The artists painted on 8-by-8-foot wooden panels used to wall off a building that has been unoccupied for the past decade, Bkreader reported. Beler looks for positive themes but avoids religion or politics because he says they tend to divide the community.
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