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> a correction would imply that housing prices are inflated by artificial factors, rather than actual demand. One of those Silicon Valley house buying companie
by UncleEntity 4y ago
> a correction would imply that housing prices are inflated by artificial factors, rather than actual demand.
One of those Silicon Valley house buying companies, forgot which one, took a $500 billion haircut a few months ago for their algorithm driving up prices above actual demand.
Haven’t heard anything since but I can guarantee they didn’t dump those houses at market prices, they said they were going to bundle them up and sell in bulk but don’t know how that’s working out for them.
- 5822130027 4y ago
- notatoad 4y agoZillow. And yes, that happened. But also it ended, and if that was a significant factor I would have expected to see an impact in housing prices when they exited the market. Instead it made absolutely no difference.
- foogazi 4y agoZillow being a public company, we know they exited the market - but do we know what other players saw the same thing and also stopped buying ?