The problem is that people think the value of their homes is equal to what they paid for it plus some percentage gain every year.
How is this the problem when you just stated previously that the price is 20% off from reality for 10% of people.
The real problem is a shitty estimate becoming something that people treat as a real estimate. Zillow obviously state this isn't the intention, but if they act in a way that promotes it as an estimate contrary to what they state they are doing, well, people are going to get angry.
How is this the problem when you just stated previously that the price is 20% off from reality for 10% of people.
The real problem is a shitty estimate becoming something that people treat as a real estimate. Zillow obviously state this isn't the intention, but if they act in a way that promotes it as an estimate contrary to what they state they are doing, well, people are going to get angry.