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Image Credit: Arxiv

Predicting the Past: Estimating Historical Appraisals with OCR and Machine Learning

  • Researchers develop a method to digitize historical housing assessment data to quantify financial effects of 1930s U.S. government housing policies on racial wealth disparities.
  • They manually annotated property cards for over 12,000 properties and used OCR to label data for an additional 50,000 properties.
  • A two-stage approach combining classical computer vision techniques with deep learning-based OCR was utilized in the process.
  • A regression model based on building feature data was also employed to estimate historical values in cases where OCR could not be applied, showing promise for generalizability to other counties.

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