The Housing Market Is so Red-Hot It Broke Zillow's Algorithm
Volatility in the housing market "far exceeds what we anticipated" and makes algorithmic home flipping too risky, Zillow CEO Rich Barton said.
Source: businessinsider.com
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Zillow to lay off 25% of its workforce and shutter house-flipping service
CEO concedes that forecasting housing prices is much harder than the real estate firm expected.
United States Rich Barton Jeremy Wacksman Zillow Offers American Securities Chief Operating Officer Jeremy Wacksman
Source: cbsnews.com