Appraisers and the Fair Housing Law

Posted: 27 Jun 1998

See all articles by Richard W. Hoyt

Richard W. Hoyt

University of Nevada, Las Vegas - Department of Finance

Robert J. Aalberts

University of Nevada, Las Vegas

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

Hoyt, Richard and Aalberts, Robert J., Appraisers and the Fair Housing Law (April 30, 1996). Available at SSRN: https://ssrn.com/abstract=9084

Richard Hoyt (Contact Author)

University of Nevada, Las Vegas - Department of Finance ( email )

4505 S. Maryland Parkway
Box 456008
Las Vegas, NV 89154-6008
United States
702-702 895-3493 (Phone)
702-702 895-4650 (Fax)

Robert J. Aalberts

University of Nevada, Las Vegas ( email )

College of Business & Economics
524 VIA DEL CAPITANO CT
Henderson, NV 89011
United States

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