If you're familiar with former Assistant Secretary of Housing and Urban Development (mortgage division) Catherine Austin Fitts' story, this will sound very familiar. (3) make some improvements to said houses and "flip" them, i.e., sell them for a profit over and above the purchase price plus the cost of the improvements. (2) have a sophisticated computer program crunch all that data and tell said company's buyers what houses to buy and, (1) a real estate company (in this case Zillow), thought it would be a really good idea to gather all sorts of real estate data and, Summing all this up, we have the following: The program has vacuumed up properties across the country to flip, only to be met with fierce competition from services such as Redfin, Offerpad and Opendoor. Launched in 2017, Zillow's iBuying arm uses a wide array of real-estate data with the goal of quickly and efficiently acquiring properties to flip for a profit. In Phoenix, 36.5% of properties currently for sale were listed below their purchase price, while the remainder of the 93% started higher, only to have price reductions. On Sunday we reported that Zillow Group's AI-powered house flipping operation was a dismal failure - with 93% of homes in their Phoenix, Arizona portfolio (the company's second largest) currently listed at less than what the real estate company had paid, as revealed by an Insider investigation. Zillow Scrambles To Punt 7,000 Homes For $2.8 Billion As AI Flipping Scheme Ends In Disaster it's time to get to the very very short story: I know that being a traditionalist I'm supposed to love capitalism and private property and all that stuff, but I don't, at least not the kind of crony finance crapitalism that makes money by trading paper with computer algorithms, and not making things and selling them.īut anyway, I've yammered on enough. If you've hung around this website for a long time, you'll be aware of my thoughts on algorithmic trading and flash crashes: they reflect markets wildly disconnected from actual human market activity. Up until now, the only confirmation of that wild and wacky scenario has been the occasional stock market "flash crash". And I'm blogging about it because those implications concern a wild and wacky scenario that I've been kicking around in my head for a few years now, and this story gives that scenario a bit more credence. thank you!) is very very short, but the implications could go on for millennia if one stops and thinks about it. Aly zoomed down the hallway with her brother in his wheelchair so that he would be happy when the big moment came.The following article (sent by K.M. With her brother being walked quietly behind a curtained area in his wheelchair to keep him calm, she quickly exited to get him before his name was called out. Aly was called first on-stage to receive her diploma. Anders Bonville, 18, from Birmingham, Alabama, was diagnosed with autism when he was two, which left him non-verbal but – along with his sister, Aly – the pair developed their own unique language and set out to alter perceptions of the condition. A teenager has earned herself an army of fans after she finally reached her goal to help her severely autistic twin brother across the stage at their high school graduation.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |