AI Showed this Video and Anger Ensued
The following video was aired in Canada by CBC in March 2021 and has nearly a half a million views.
At a recent meeting, the Appraisal Institute showed this video and anger ensued. The audience was deeply divided, and the conversations almost came to blows. My guess from past actions of AI CEO to remove the diversity committee would assume the FOJs want to continue to hope that this issue goes away and will continue to do little as an organization. And without Rodman’s leadership on his personal passion point and Super Duper’s dear in headlights compassionate pleas on how awful this is but does nothing because it’s completely up to Jim even though technically it absolutely isn’t (gasp for air), these stories and situations expand to daylight without the industry trying to solve it. At this point, it’s probably better they do nothing and suffer their fate. The issue is not going away.
So the New York Times story: Widespread Racial Bias Found in Home Appraisals, Bloomberg: New Federal Data Shows the Home Appraisal Gap Is Getting Worse, Inman: Those claims of appraisal bias? Another study backs them up, NPR: How home appraisal methods can end up perpetuating racial inequality and The Real Deal: Appraisal gap worsened as racial disparity persists shows that is too late to provide credible input. The cowardice of Appraisal Institute and Appraisal Foundation leadership on this topic is forever etched in stone. Congratulations. Were all those first-class airplane tickets to boondoggles really worth it?
- FNMA Continued Effort to Get Rid of Appraisers - September 29, 2023
- Beware of Bifurcated Appraisals - August 4, 2023
- And Why Is the Second Appraisal Always the “Correct Value?” - June 9, 2023