<- Production AI Graph
incident event
Zillow iBuying Algorithm Collapse
Zillow's algorithmic home-buying programme (Zillow Offers) purchased homes at prices its model predicted would appreciate, then resold them for profit. The model failed to track rapidly changing market conditions in 2021. Zillow found itself holding 9,800 homes worth $2.7 billion, purchased at abov…
Confidence
80%
Sources
1
Entities
1
Detected
1 Jan 2021
Event summary
Zillow's algorithmic home-buying programme (Zillow Offers) purchased homes at prices its model predicted would appreciate, then resold them for profit. The model failed to track rapidly changing market conditions in 2021. Zillow found itself holding 9,800 homes worth $2.7 billion, purchased at abov…
D4D8
Linked entities
- Zillow
organisation | 72%
Related graph edges
| Edge | Type | Confidence |
|---|---|---|
| ent-org-zillow to ent-psf-d4 | maps to | 62% |
| ent-org-zillow to ent-psf-d8 | maps to | 62% |