On: How Zillow's homebuying scheme lost $881M

[awb]

> the homes were absurdly overpriced

That’s saying a lot for a red hot real estate market.

I still get updates from Zillow every month saying my home increased 5% in value in the last 30 days and up 30% over the last 12 months. Something is wildly off with their algorithm.

[bastawhiz → awb]

The agent I was working with showed me two houses on the same block that were much more modern and had sold for less within the previous few months. The Zillow house in question had been on the market for almost four months and was in far worse shape.