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Kevin, so Zillow will file a loss on the tax side due to losses on the properties, thus lowering their overall taxes owed?
Both of open door and Zillow's houses are on market for longer time than normal houses. Not sure why?
Wow! That was exactly my speculation. That Zillow incentivized employees to close deals and they closed a bunch of bad deals and now here we are…
As a first time home buyer this news give me hope !
I just went and looked at all the Zillow owned homes for sale in Las Vegas and damn yeah it's crazy. Some examples…purchase 10/1 for $550k and listed for sale 11/1 $499k………..purchase 9/14 $475k and listed for sale 10/20 for $440k
People think this will hurt the RE market. When in reality Zillow is selling 7,000 homes to hedge funds and big institutions. Meaning that is 7,000 more homes you and I cannot buy.
The 1st of the month hits different when you own rental properties.
Buy high and sell low. Lucy you have some explaining to do.
Fed won’t let interest rise. They will buy entire bond market
Zillow is now big enough to crash any market as well as create a bubble in any market…..
Nobody buy a home for the next 8 months let's make them bleed
I hope all real estate investors get shafted.
I don’t know how Zillow stays in business. Have they ever produced a quarterly profit?
You know Kevin saw this coming a mile away.
Kevin's best interest is to keep home prices sky high. No wonder his tone seems so upset that Zillow is doing this. He doesnt want any fear in the housing market.
They were moving into a competitive business model that has competition that has a headstart on them that's a fact.
Which company do you think is better? RedFin VS EXPI World Holdings?
Zillow tried to jack up the real estate market in the same way Carvana and carmax is inflating the used car market. Not the time to buy.
……….i saw weeping Zillow crying on its pillow iam soo busted i could laugh forever…….
The biggest takeaway here is why are we competing with Zillow and institutions for homes ?
A 40% increase in personnel would be 4/14 people are brand new, not 4/10 people btw, small correction
It’s all by design. World Economic Forum: you will own nothing and will be happy.
Is anyone else getting scared of how quickly prices are going up at the grocery store… ? A housing crash and skyrocketing inflation, is this our new reality?!
that sounds like a very bearish call by Zillow.
pennies on dollar huh? well certainly not in my area.
I hope the entire thing comes crashing and burning down, enough is enough.
Elon coin good price to buy
Soon to br listed on Binance and coinbase
Kucoin is allready selling bilions
I Zesstimate Zillow will LOSE approximately 700 million dollars by this move.
Ouch! Ouch! Ouch!!!!! Help
It's not a problem. Zillow can file Bankruptcy and the tab will be picked up by FED and then distributed equally to citizens.
Would the rising stock market have anything to do with investors pulling money out of real estate?
Jesus the market crashes every day for this guy.
Wait so instead Of having something more sinister going on your explanation is, a company that can hire people from all across the world isn’t smart enough to flip houses or smart enough to hire someone that can. lol okay Kevin. Okay
Sounds like Zillow did the exact job they were meant to do; fits perfectly with where the central planners want to take the country. Zoom out further, this isn't about Zillow, it's about the larger agenda Zillow is serving.
The market isn’t coming down that easy – they’ve been planning to stretch this crisis out over the next 40 years while actually making the big investors a bunch of money both with stimulus on the front end and new maturation dates on the back end (federally backed refi at 30 and 40 years is in full swing)