Real Estate Industry Supports Equality for LGBTQ+ Homeowners
National LGBTQ+ homeownership rates are at 49 percent compared to the national average of 65 percent. Discrimination is the reason behind the trend according to the National Association of Gay & Lesbian Real Estate Professionals (NAGLREP).
Despite the Supreme Court’s ruling in 2015 that struck down state bans on same-sex marriage, many LGBTQ+ singles and couples are still discriminated against. While many states have laws to prohibit housing discrimination based on sexual orientation and/or gender identity, numerous professionals in the real estate industry feel that equal lending practices have a long way to go.
One contributing factor is the historic Equality Act (2019) that passed in the U.S. House of Representatives but stalled in the Senate. The bill is meant to ban discrimination against the LGBTQ+ community “in housing, credit, employment, education, public spaces and services, federally funded programs and jury service,” according to the NAGLREP.
The Equality Act is strongly supported by the real estate industry, Bank of America, Wells Fargo, and other housing associations.