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A comment on Zillow just gave us a look at machine learning's future. Parent comment

Re:Zillow just gave us a look at machine learning's future by PKop on Sunday November 07, 2021 @11:36AM (#29140898)
>those whose homes could not fetch anywhere near as much via traditional sales channels

Isn't this just another way of saying the models overstated the value of the homes?

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Re:Zillow just gave us a look at machine learning's future by kshacker on Sunday November 07, 2021 @11:56AM (#29141122)
On an average they may not have. Three separate million dollar houses get offered 900k, 900k and 1.2M. The point is that the guy offered 1.2m knows he will not get the 1.2 anywhere else and takes the offer.

The individual house is overvalued but you don't find out until after, let's say, 7000 of those sales.

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