Appraisers and the Fair Housing Law
Posted: 27 Jun 1998
Date Written: April 30, 1996
Abstract
This paper examines the effect that the 1988 amendment to The Fair Housing Act, which makes discriminatory housing practices against a handicapped person unlawful, may have upon value and ownership of covered multifamily dwellings. In September, 1988, the Fair Housing Act of 1968 was amended to include the handicapped as being protected from discrimination under the auspices of the Act. On March 6, 1991, the U.S. Department of Housing and Urban Development issued "Fair Housing Accessibility Guidelines", which provide technical guidance on multifamily dwelling design. This paper examines these guidelines and the impact the Act may have upon value when discriminatory practices are observed. Already, legal action has been initiated in instances of noncompliance and, therefore, the real estate appraiser and investor must be cognizant of the Act and its implications upon value and ownership.
JEL Classification: K11, C28, L85
Suggested Citation: Suggested Citation