On April 26th, ASA testified before the Philadelphia City Council Committee on Housing, Neighborhood Development, and The Homeless to address factors leading to the devaluation of homes in minority communities.
The testimony pointed out two key drivers of devaluation: The overreliance on the Sales Comparison approach and unconscious bias. While there is much work to be done to address devaluation, ASA spoke of hope through education and greater diversity within the appraisal profession to help establish long-term solutions.
A transcript of ASA’s testimony may be viewed here.
The hearing was broadcast live on local Philadelphia Channel 64. A recording of the hearing may be viewed here. ASA’s testimony appears at 1:24:50-1:32:00.
The Philadelphia Inquirer and the Metro Philadelphia Newsletter also ran editorial coverage of the hearing, including a quote by ASA.
Source: National ASA news links.