Zillow iBuying Failure
The cluster focuses on Zillow shutting down its iBuying home-flipping business due to inaccurate machine learning-based price predictions, with discussions on Zestimate reliability, business incentives, and related articles.
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As badly as Zillow perhaps: https://vinvashishta.substack.com/p/zillow-just-gave-us-a-lo...
Evidently not as useful as Zillow expected!
zillow isn't going to release these houses to you and me. they are going to blackrock and other such firms
Came here to say the same thing, Matt Levine's article is at https://www.bloomberg.com/opinion/articles/2021-11-18/zillow...
Zillow is not making a very convincing argument here. Seems like a wild guess at best.
Interesting, have a link to the Zillow prediction?
I am starting market research on Zillow/Redfin Estimate Accuracy tracker. It is an interesting topic to help people understand how their zillow estimate varies over time and with similar sales nearby. I assume the product would be useful to agents and home owners. Since, zillow is getting into flipping houses, this number will be even more interesting. If you are interested, we can team up. Email in profile.
Numerous other submissions / articles:https://www.wsj.com/articles/zillow-quits-home-flipping-busi...https://finance.yahoo.com/news/zillow-shuts-down-home-flippi...<
Zillow is a biased party, being a business that earns its income from home sales. They very well could publicize different figures than what they really think, although I think it is more likely that they simply do not have the ability to predict prices any better than most others.Which is why they lost a ton of money in their home buying/selling division and shut it down.
are you just ignoring that zillow is a website that people search for their homes and zillow would be, like facebook, like google, like windows, the pureposefully distort results and dark patterns towars their own wares, skewing the actual perception of the msrket?seems odd to give them any good faith here, given what we have seen with every other xearch platform.