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Thread: Appraising - another profession that's suffering

  1. #1

    Appraising - another profession that's suffering

    I came across the Current state of appraisal industry/profession thread posted on an appraisal forum while browsing the Internets the other day. It reminded me of some of CC and nrschmid's infamous threads on the state of the planning profession. Understandably, the appraisal industry was one that was hit very bad with the housing market collapse, and received much scrutiny from regulators. The general consensus of the appraisers is that there is a permanent shift where the traditional bread and butter of the industry, appraising residential properties for banks to determine loan amounts, is being replaced in favor of computers and algorithms. Other areas, such as commercial real estate appraisal and niche specialties are becoming lucrative.

    It's common belief here on Cyburbia that planning will eventually return to how things were pre recession. But I wonder if there has been a permanent paradigm shift currently underway, as the the appraisal and perhaps other professions are experiencing.

    Or just my ramblings on a Saturday afternoon waiting for my team to take to the field.
    The content contrarian

  2. #2
    Cyburbian dw914er's avatar
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    It's amazing how the "normal" has shifted as a result from the economy, and their forum provides another reminder that alot of jobs are hurting. Many different professions have experienced a paradigm shift when it comes to 1) how they conduct business, or 2) who they can choose to hire. It's interesting that their profession is getting that sort of automation, but then again, it does make sense. The numbers come from somewhere, and has to be calculated. However, I still wouldn't trust my bank calculated my homes value through Zillow or something of the sort.

    Also, I still think that unless a bunch of legislators removed all planning requirements, we will still have some level of planning. Our profession is impacted by less development, smaller government budgets, and a couple of other issues, but I think it's different that those impacting appraising.
    And that concludes staff’s presentation...

  3. #3
    Quote Originally posted by OfficialPlanner View post

    It's common belief here on Cyburbia that planning will eventually return to how things were pre recession. :
    I'm sure it will come as no surprise that I very much disagree. I think the "old timer" planners, the ones who have already achieved the highest level they will attain in their careers, think so. Well, they're the last generation receiving a net benefit from a bankrupt system. Hoorah for them.

    Things will never return to how they were before the Great Recession, just as things never returned to how they were prior to the Great Depression. Two things change society more than anything else: war and economic disaster. The past decade has been dominated by both. It's highly naive to think we'll go back to the good ol days of 2005 when planners could slap together boiler plate plans with stock photography of new urbanist developments and shake the hand of developers with dollar signs in their eyes pretending to make the world a better place by converting farm land into glorified strip malls. Nowadays planners busy themselves with "career development" and justifying their existence whilst embedding themselves deeper into bureaucracy as a means of achieving job security. Tell me how, without enormous contortionist language, how things would ever "return to normal."

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