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I mean, granted, but there's models, right? Surely some combination of the assessments made by financial firms and government is objective, right?
by meltyness 2y ago
I mean, granted, but there's models, right? Surely some combination of the assessments made by financial firms and government is objective, right?
- wat10000 2y agoThe value of a property is whatever it can sell for. Models and assessments attempt to figure out that number without actually performing a transaction. An accurate model will account for the same factors a buyer will use to decide what to offer, but ultimately it’s down to what people will pay. If that number goes up 2x, there’s no model that can tell you that increase is somehow incorrect, or that the true value is lower.