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It doesn't seem surprising that Zillow is pump-and-dumping in an already extremely bubbly market.

• toomuchtodo 11y ago
  While you didn't provide any evidence, I agree with you. The housing market didn't "rebound" per se; investors soaked up all of the distressed inventory while previous owners fled to rentals. This masked the underlying fundamentals of the real estate market. In some markets (SF, Texas), you have a lot of foreign (read: Chinese) money flowing in fleeing less than favorable jurisdictions. That should hold prices up there (as well as the other obvious reasons SF pricing will be held high; Texas is a new phenomenon). Other markets though are (in my opinion) being held up by extremely low mortgage rates (<4%), and as soon as the Fed starts their march upward, you're going to see home prices come down. This doesn't even begin to address Boomers who are going to want to downsize to unlock their equity for retirement, flooding the market.
  • uptown 11y ago
    I think xacaxulu was referring to Zillow, the company - not the housing market.
    • toomuchtodo 11y ago
      Ugh, I really need to not touch HN until I drink a cup of coffee in the morning.