The document discusses how big data is changing the real estate industry. Traditionally, real estate operations involved contacting agents and comparing listings and prices. Now, big data allows for better understanding of communities, easier searches for rentals and estimates, and more targeted consumers. Challenges include collecting and managing expiration of data. The proposed analysis uses New York City home valuation data and new development projects to analyze their effects on real estate prices. Linear regression is presented as an example algorithm that could be used to predict house values based on features like location.