News for hackers. Stuff that matters.

A comment on Investors bought a quarter of US homes sold last year. Parent comment

Re:Investors bought a quarter of US homes sold last year by __derek__ on Tuesday August 23, 2022 @02:33PM (#32569134)
> The CoreLogic data shows that what it calls “mega” investors, with a thousand or more homes, bought 3% of houses last year and in 2022, compared with about 1% in previous years, with the bulk of investor purchases made by smaller groups.

Re: Zillow, it actually did well in the flipping business when relying on its models to make the buy decision. It got into trouble after tweaking the model to say "buy" on more (and more expensive) homes.

[ Parent | on HN ]
Re:Investors bought a quarter of US homes sold last year by duxup on Tuesday August 23, 2022 @02:38PM (#32569226)
IIRC Zillow did "too well" to the point that they felt their model wasn't gauging the market correctly and was going to inevitably fail them spectacularly. The fact that it did well, better than it should have was just good luck... but also a bad sign because the model predicted a different outcome.
[ Parent | on HN ]