Real estate market crash is here.
Zillow's stock data trend has relations with average home price in United States. Current state of Zillow stock kinda indicates it's beginning of real estate market crash, give or take 6 months from now. Any insights, links, inside information? Does Zillow know for sure and is really trying to exit for same reason? #tech #realestate #housing
Inside information? Who can read minds? Zillow overpaid and will sell off to a large firm. Prices may flatten when interest rates rise but until supply can come close to meeting demand there will unlikely be a significant change.
They used to be correlated but not that “related”
why would anyone use zillow as the barometer when they failed their business so badly? it’s not an indication of the general housing market but more that zillow messed up big time
Zillow’s market cap is < 1% of US real estate transactions per year
This post is simply wrong. There’s no connection between the two.
Zillow just made a major announcement around their home flipping business that cratered the stock. Their stupidity doesn't correlate with housing prices.
Lol.... Looks like you have been renting for a while and waiting for "crash" to happen so that you can buy a property.
I have 6 properties for rent, waiting for next step. Lol. How shallow, what you can think of people outside Google
Yeah if you own 6 properties, I own 100. Who the heck knows the reality ? Stupid of you think crash is coming. Heard this argument since pandemic started. People said employees are moving out of the bay bec they want cheaper housing and bay area houses will be on fire sale. Exactly opposite happened..bay area has gone bonkers since the pandemic. People are bidding crazy.
lol..... if ur that confident, why dont you buy puts on real estate etfs. then we can talk.
Lol .... Exactly .... All chatter no action. @OP - show us your short position against housing market then come back here.
Zillow decided to exit the flipping business because their data shows significant fall in house prices in next 6 months. They are good at that give or take. Zestimates definitely feel inflated since pandemic, but right now more than ever. Flipping business is damn profitable, it doesn't make sense to get out unless there's something serious coming in next 6 months. These indicators are not just related to Zillow but It's same with Redfin as well, so it's difficult to ignore the fact that there is some tension underbelly.
Literally all of this is wrong.
Thanks for confirming
Not sure if real estate market sentiment is responsible for their stupid algo!
@zillow, do you own a house or rental property?
I second you on that. I don't think any corporation should have any reason for owning a residential home. But then again, getting any law to pass through congress is another pain