In the United States, the residential housing market went through important changes over the period from the 1970s to the mid-1990s. Although the aggregate homeownership rate was relatively constant during that period, the distribution of homeownership rates by age changed in remarkable ways....

Appraisal bias has emerged as one of the most controversial issues in the mortgage industry. Several recent studies have documented systematic biases in traditional appraisals that result in lower values for Black and Hispanic homebuyers and neighborhoods (Rothwell and Perry, 2019). This in part...