Tag: zillow
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Zillow’s Failure in Housing Flipping is a Classic Example of Ignoring Bottlenecks and Variabilities
By now, we have all heard the story of Zillow losing more than $550 million doing house-flipping. Its CEO blamed it on its forecasting model that produced house-buying prices there were too high, saying that “We’ve determined the unpredictability in forecasting home prices far exceeds what we anticipated and continuing to scale Zillow Offers would…