Stop Zillow From Manipulating the Housing Market

The Issue

We call on all American lawmakers to defend it’s citizens and realtors against the continued attempts of Zillow to undermine and devalue the housing industry by eliminating the realtor component of purchasing a home. Zillow's recent move to becoming a listing entity and buying homes directly from consumers leaves consumers un-represented, uninformed, and vulnerable to misleading and self-interested hedge funds bent on devaluing the homes they purchase, while charging premiums when re-sold.

Zillow analyzes the data that they’ve acquired from real potential homesteaders, particularly in neighborhoods with lower price points. They then pay far beyond the asking price for one house in the neighborhood, which raises the estimated prices for all the other 'comparable' houses. Zillow then sells the other houses at a profit which they created.

This is a miscarriage of justice that disproportionately affects new homeowners, specifically those who are overcoming generational poverty.

If you were planning on purchasing a home, sign this petition so we can, at the very least, have a fair opportunity. 

 

 

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The Issue

We call on all American lawmakers to defend it’s citizens and realtors against the continued attempts of Zillow to undermine and devalue the housing industry by eliminating the realtor component of purchasing a home. Zillow's recent move to becoming a listing entity and buying homes directly from consumers leaves consumers un-represented, uninformed, and vulnerable to misleading and self-interested hedge funds bent on devaluing the homes they purchase, while charging premiums when re-sold.

Zillow analyzes the data that they’ve acquired from real potential homesteaders, particularly in neighborhoods with lower price points. They then pay far beyond the asking price for one house in the neighborhood, which raises the estimated prices for all the other 'comparable' houses. Zillow then sells the other houses at a profit which they created.

This is a miscarriage of justice that disproportionately affects new homeowners, specifically those who are overcoming generational poverty.

If you were planning on purchasing a home, sign this petition so we can, at the very least, have a fair opportunity. 

 

 

The Decision Makers

Gavin Newsom
California Governor
Joseph R. Biden
Former President of the United States
Kamala Harris
Kamala Harris
Attorney General
Benjamin Allen
Former State Senate - California-26
Alexandria Ocasio-Cortez
U.S. House of Representatives - New York 14th Congressional District
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Petition created on September 23, 2021