‘Don’t Buy Zillow Homes:’ A Tale of Failure, Mistrust and Hot Housing Markets

Bloomberg, Nov. 3, 2021–Claire Ballentine, Charlie Wells
It has been a tumultuous few days for the real estate company. On Tuesday, the firm announced it would be shutting down its much-vaunted house-flipping arm and cut its workforce by 25%. Zillow is also seeking to sell some 7,000 homes to institutional investors for $2.8 billion. And it plans to take writedowns of more than $500 million on the failed venture that relied heavily on its pricing algorithms.