Is that the sound of a bubble bursting?

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Zillow loses $300 million using its own zestimate algorithm in the hottest real estate market in history.

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How many loans were issued using estimates? How many CDO’s are built on over priced homes? How is this going to play out as blackrock does the exact same thing?

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Everything bubble goes *pop*

 

h/t Dontknownothin

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