Patrick Bayer, Duke Economics chair and professor, was featured by Chicago Magazine and other outlets for his working paper showing that blacks and Hispanics may pay thousands of dollars more than white buyers for comparable houses, and the differential is highest in Cook County Illinois. Bayer told the magazine that one reason for the racial differences is probably that minorities have lower home ownership rates, and are therefore more likely to be first-time home buyers with less experience negotiating the asking price of a house.
