Property Market is going WILD

[Wargames]

Zillow Caught Up in TikTok Drama Over Big-Money Role in Housing

Dont forget the fact they use data to see where people are looking at homes and the average salary from the area of the home sellers. The example given was on some Amazon, manipulating the market type steez.

So let’s say for example multiple people from neighborhoods across the country where the average salary is between $150,000 to $200,000 are looking at homes in a particular neighborhood in Chicago. Zillow will buy the 30 homes in that neighborhood, and on the 31st increase the price of the purchase by $80,000. They will then report the average price for that neighborhood as being higher and raise the cost of all the other 30 homes they own to match the cost of the 31st home they bought for $80,000 more. They will then make minor repairs and raise the price again say another $20,000 on all 31 homes. So for those 31 homes that they know people are interested in buying because they have the data, the company will make $3,100,000 dollars profit. Now imagine them doing that hustle everywhere, and other companies doing it as well. What you’re seeing is a form of market manipulation, that like a lot of things is artificially increasing the market.

 

[Isaiah Bradley]

Housing is a human right. If not, every major and mid-size city in America would look like Skid Row

...which is due to the government's social safety nets, that limits both where folks can live and who qualifies

while "activist" owners can remove these housing limitations without depending on voucher/section8 deals, but won't for obvious reasons

 

[Geek Nasty]

Literally on fire

A housing market so hot that a burned-out home listed for $400,000 - CNN

 

[1thouwow]

Update, we ended up winning with best + final $215k over asking and agreed to take $10k hit in repairs from inspection, letting owners stay for 45 days post-closing and appraisal can come in $275k below contract (we’re putting 35% down). Appraisal came in $85k below contract.

Closed in June, Zillow says it’s now worth 75k more than what we paid.

Where at?

 

[1thouwow]

I’m tryna wait for it to calm down or crash but idk when that’s gonna be

 

[Based Lord Zedd]

I ended up building a new house, been here a few weeks. If i tried to buy the same house right now it would cost 40k more.

House was appraised for more than i paid which is good i guess and i like the house/area. Hopefully i don't end up getting hoed.

 

[ill]

Literally on fire

A housing market so hot that a burned-out home listed for $400,000 - CNN

5 minutes outside of Boston. It'll sell as is. The market around here is insane right now. Side note rent prices going down in Boston but up everywhere outside of it.

 

[Mook]

Dont forget the fact they use data to see where people are looking at homes and the average salary from the area of the home sellers. The example given was on some Amazon, manipulating the market type steez.

So let’s say for example multiple people from neighborhoods across the country where the average salary is between $150,000 to $200,000 are looking at homes in a particular neighborhood in Chicago. Zillow will buy the 30 homes in that neighborhood, and on the 31st increase the price of the purchase by $80,000. They will then report the average price for that neighborhood as being higher and raise the cost of all the other 30 homes they own to match the cost of the 31st home they bought for $80,000 more. They will then make minor repairs and raise the price again say another $20,000 on all 31 homes. So for those 31 homes that they know people are interested in buying because they have the data, the company will make $3,100,000 dollars profit. Now imagine them doing that hustle everywhere, and other companies doing it as well. What you’re seeing is a form of market manipulation, that like a lot of things is artificially increasing the market.

This is what happens when billionaires and companies hoard money.

 

[alybaba]

Where at?

NYC suburbs

 

[1thouwow]

NYC suburbs

hold this L

 

[Dat Migo]

Praying for Zillow to offer to buy my house

 

[Kornball The Conqueror]

1221 S Wilson St, Tempe, AZ 85281 | MLS #5987673 | Zillow

$500k for this trap house and you are not allowed to look inside because the tenants dont want you to.

**DRIVE BY ONLY**

 

[dora_da_destroyer]

Startup Firms Help Home Buyers Win Bidding Wars With All-Cash Offers

Interesting concept, I hate the advantage all cash offers have on homeownership - it's just too biased toward the highest earners in a region or investors - but i'm not sure these startups will be working with the average buyer either, it'll probably favor the same types of people, just those who don't want to liquidate their stock grants or annual bonuses

 

[Geek Nasty]

**DRIVE BY ONLY**

“If they dont take my offer I just might”

 

[Skooby]