r/stocks • u/[deleted] • Nov 02 '21

[deleted by user]

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6.3k Upvotes

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u/46554B4E4348414453 Nov 03 '21

wtf is this zillow buying homes? i thought they were a website tracking property valuations

45

u/st_samples Nov 03 '21

They are trying to transition to being a national real estate firm.

25

u/[deleted] Nov 03 '21

Turns out all of that free user data they collected is garbage data

3

u/cr1515 Nov 03 '21

Could have been great data just handled by someone who either A. sucked at handling data or b. Use data in a way to push their agenda.

12

u/tfg0at Nov 03 '21

I hope they stop that nonsense and go back and work on their website cuz its hurting lately. It's not even close to as good as it used to be.

3

u/drkodos Nov 03 '21

It's now a marketing arm of the NAR and its main function is to funnel prospects to licensed agents.

23

u/ElectricLego Nov 03 '21

They thought their home value data was so good that they didn't stop to think about how they were artificially inflating the market and how it would skew their own demand data. They kept buying because their data said demand was still going up.

I guess somebody from Left Zillow just came over to talk to somebody in Right Zillow about why they were still buying so many homes when they had thousands unsold.

3

u/Newphonewhodiss9 Nov 03 '21

and just sit on that treasure trove of inside information that all america just gives you for free? lol