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I believe that it is undesirable to live in a society where the rich get richer, and the poor get further and further behind. According to Zillow, my home -- w
by impendia 4y ago
I believe that it is undesirable to live in a society where the rich get richer, and the poor get further and further behind.
According to Zillow, my home -- which I own -- has gone up in value by nearly 50% in the last three years. Good for me I guess, but not good for people who are trying to rent or buy their first home. And I'm not even sure it's good for me -- long term, I want to live in a neighborhood where not everyone is rich.
- bojangleslover 4y agoWell because you have to live somewhere, you'll never be able to "cash out" on that house since you'll just have to buy another house which if it's aligned with your tastes will probably have also surged 50%. In the meantime, your property tax either has gone up or will go up 50% so you're short-term poorer.
- lotsofpulp 4y agoZillow home estimates are worth zero. Hence them eating a huge loss on their own home flipping business. Your house would almost assuredly not sell for the 50% price increase that Zillow is claiming. Their goal is to get you to spend time on their website and shop for houses, and somewhat plausible, eye popping numbers help.