3 ms·
Interesting topic but this article is very short on the important details. “Buy and hold for a few months” would have been a good strategy for most of the pand
by huitzitziltzin 5y ago
Interesting topic but this article is very short on the important details.
“Buy and hold for a few months” would have been a good strategy for most of the pandemic, but Zillow appears to have overpaid substantially to the point where that didn’t work. Their predictions must have been badly off. (Also: this is a great example of the “winner’s curse” in first-price auctions!)
The article quotes a figure of $65,000 “over market price”, but where “market price” comes from for those houses it bought is unclear.
The claim of “market manipulation” by Zillow is ludicrous on its face without substantial evidence, which I’m guessing did not appear in a tiktok video.
If all iBuyers in the Phoenix market _combined_ were buying 5% of homes, that doesn’t suggest to me that Zillow _alone_ would be able to exert any pricing pressure.
I would love to read a more detailed article than this one if any are available.
- cyanydeez 5y agoare 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.