Machine learning for analyzing economic data to predict rent and property values

[toms3t]

This is a long-shot but I figured I would still add it. This project would greatly benefit from a predictive scoring model that would assess economic data for an area (based on property address) and provide a prediction on rent and/or property valuation changes for the next year.

[maccam912]

Doesn't the Zillow Zestimate do this already? Forgive me if I missed the difference. I'm getting this project set up to play with it first.

[toms3t]

@maccam912 So the Zestimate is a point-in-time estimation. Although, I hadn't noticed this before but it looks like the Zestimate forecast does the 1-year value estimation - thanks for pointing this out! However, I see no 1-year rent forecast...

[Sando1]

Hi. Does this still need to be done? I want to work on this.

[toms3t]

Yes it does! Feel free to take it on.

[Selich]

What is the progress on this issue a the moment? I designed a similar model that could be of use here.

[toms3t]

@Selich - no progress yet. Would love to see if your model can be used here. Getting the right data may be the biggest challenge.

[Sando1]

@toms3t You are correct. Getting the right data has been a big challenge for me. @Selich If you have something in mind, I would love to work with you on it. I have been trying to work on this in my free time but have not made much progress

[Selich]

@Sando1 Sure, we could work together. I had a pretty busy schedule so sorry for the late reply.

We could extract financial ratios from data first so we could generate some labels by some type of classification algorithm. Just an idea on top of my head.

Don't hesitate to suggest if you have any idea on how we could work together on the solution, by some other means of communication.

[gannontraynor]

has any progress been made on data gathering. I have been looking for new a new project to work on.