Guest Article: Technology and the Housing Sector

by Romi Mahajan CMRO Quantarium

The Housing industry has again emerged as a focal point for discussion.  Two very different factors are at play in the last two weeks, but they are tied together in one societal thread:   Structural racism and economic recovery.

With the recent protests roiling the country- emphasizing equality and an end to racism- organizations of all kinds are making solemn pledges to do their part to correct past and present inequalities.  The housing ecosystem has a lot to do here- not only as a fundamental industry in the country but also one that has been consistently proven to propagate racial inequality.  With the country’s economy getting back to its ex ante footing, housing indices are being widely looked at for signs of recovery.  These two threads- structural equality and economic recovery- meet in any analysis of the entire housing ecosystem.

The question inevitably arises- what is the role of technology here?  Is structural racism of the variety that plays out in the housing market a function of human decision-making and other “correctible” factors?  In other words, if one can un-bias AI, would AI do a more equitable job in, say, offering the same interest rates to prospective buyers irrespective of race or gender?  These are questions that will need to be explored if the solemn pledges referred to above are to be taken seriously.

We know that technologies are tools not actors.  So what is the right combination of “Person + Machine” that will at once help the housing sector lead the way in economic recovery, this time, however, in an equitable way that allows all people to gain the fruits equally?

As Quantarium COO Malcolm Cannon so eloquently asks, “If Housing is the largest and most important economic asset for most families, then why are we not applying the best processes and technology to it?

Time to talk.