AI Candidacy costs are still too high for anyone that is not a multi appraiser firm owner; or moderately high volume commercial appraiser.

Since AMCs have now gotten into the commercial market (such as PCV Murcor, an MAI owned corporation); and are driving fees down there too, I doubt the changes AI has made will be enough.

I have recently seen new, carefully parsed wording for federal job postings (USAJobs.gov) that illegally require designation (contrary to FIRREA). No doubt an outgrowth of AI efforts.

Make no mistake, any organizations requiring designation for work assignments covered under FIRREA are setting themselves up for class action lawsuits. Particularly as more and more of us consider joining the Appraisers Guild of America (AGA) of OPIEU, AFL-CIO or other professional cooperatives.

I think the Institute remains the BEST source of appraisal training, but the courses are neither competitively priced, or locationally convenient . Deal with those two conditions and you’ll see an increase in membership despite the unreasonably high annual candidacy costs.

The other experts optimistic statements are somewhat belied by their own data. If new housing starts are still at only 75% of normal, there is no solid recovery.

Does anyone know of many baby boomers that lost there houses in the recession that are now able to qualify for tighter new loan standards? I’d be very surprised if in a period of stricter loan requirements that those with either short sales or foreclosures on their records are considered A-Paper loan risks today; good people though they may be. Same with millennials . Unless they are cash heavy. In much of CA that means they have $70,000+ to put down (20%).

Low interest rates won’t last forever, simply because they are costing taxpayers over a trillion dollars a year to subsidize. Most bets are after the mid term elections they will shoot up to more normal ranges.

That will kill any recovery we currently have, when coupled with higher FICO requirements; tougher DCRs and lack of replacement jobs for jobs lost. While unemployment rates have declined. they are still above national levels. Furthermore, job participation is still very low. The admin can finagle the unemployment rate to make the economy appear stronger than it is, but until the labor participation ate also increases, the economy is on very shaky legs.

I call a 20% reduction of residential appraisers a great start.
The remaining 80% of these buggy whip makers should figure it out any year now.