Zillow is shutting down its homebuying unit, the company announced Tuesday.
"We've determined the unpredictability in forecasting home prices far exceeds what we anticipated and continuing to scale Zillow Offers would result in too much earnings and balance-sheet," Barton said."While we built and learned a tremendous amount operating Zillow Offers, it served only a small portion of our customers.
Who now cannot afford the more expensive homes that Zillow inflated.
🙏 to the employees being laid off
They should have hired a Realtor.
I'll give you $1200 for that house over there
Lol
Good. Time for a housing market correction. Everyone said this market was just supply and demand, only real people buying with good credit, no greed. Yeah, a handful of real people alongside greedy flipping corporations
AI is as dumb as the person writing rules for business process automation. Why did Zillow not do extensive scenario testing or build safety nets around its AI program?
Meanwhile homelessness in America increases by 49% with corporations acquiring thousands of homes, still losing money like Zillow, then handing them over to private equity.
Good.
Ok
Zillow正在关闭其购房业务，并解雇25%的员工
This is bullish