April is Fair Housing Month — the same month President Johnson signed the Fair Housing Act of 1968. The Fair Housing Act prohibits housing discrimination based on race, color, national origin, religion, familial status, sex, and disability.  

The REALTOR® Code of Ethics takes further steps and prohibits REALTORS® and their clients from discriminating against sexual orientation or gender identity. Some states and local governments have added sources of income and military service as protected classes as well, but only in the areas of their jurisdiction.  

Diversity has been a hot topic politically for the past few years and even more so in the past few months, as some claim diversity issues are no longer problems in society. However, when it comes to housing, the reality is far from equal is far from equal. Home ownership for whites has been 70 percent or above since the mid-1990s, as high as 76 percent. Unfortunately, homeownership has not been as stable for minorities.  

In 1970, two years after the Fair Housing Act, black homeownership was 41 percent. In 2004, black homeownership hit a high of 49 percent. As the Great Recession affected housing, black homeownership fell below the 1970s levels to 40 percent in 2017, and today is only at 46 percent. A slight improvement, but still far below white ownership. Hispanic ownership has only increased 1 percent in the past twenty years from 47 to 48 percent, while Asian (Asian, Native Hawaiian and Pacific Islander) homeownership is at 63 percent, but has only been tracked for the past ten years.  

Diversity in housing and fair housing laws provide numerous benefits to communities, such as preventing discrimination, encouraging diverse communities, strengthening local economies, and building generational wealth.   

The primary purpose of the Fair Housing Act was to prevent housing discrimination. One of the main forms of discrimination before 1968 came in the form of “redlining,” where banks created maps of neighborhoods with higher percentages of non-white residents outlined in red. These areas were considered risky, and lenders refused to lend to people looking to buy homes in those areas.  

The Housing Act eliminated this practice, but the effects can still be seen in communities.   

Fair housing protections also promote the creation of diverse communities. Another form of discrimination involved restrictive covenants in subdivisions, which prohibited certain ethnic and religious groups from purchasing homes in specific areas. It may be surprising to see the content of some covenants and restrictions in Columbia’s oldest neighborhoods; although these covenants are unenforceable due to the Fair Housing Act, the discriminatory language remains recorded. The Fair Housing Act worked to eliminate such practices to prevent segregation and promote diverse neighborhoods, thereby fostering stronger social ties among different groups.  

Local economies are strengthened by fair housing laws by providing families with secure, stable housing. Stable housing gives families more disposable income and provides employers with a more diverse labor pool. It also encourages neighborhood investment and reduces poverty and crime.   

Diversity in housing and fair housing laws are more relevant today than ever before. Especially in the local real estate market, where market inventory is in short supply, offers must be competitive against other buyers. In addition, diversity strengthens neighborhoods and promotes economic and social equity by ensuring that housing opportunities are based on merit and choice rather than prejudice or bias. 

Brian Toohey is the chief executive officer for the Columbia Board of REALTORS.