Amazing how they can be quoted as if they were objective when their entire business model is actually to sell sheep to wolves (buyers to realtors
Buyers are the bait. Other realtors are what they’re (Zillow) fishing for actually. In just one of their models they can sell a zip code to multiple realtors. Brokers essentially bid against each other and the zip code is always for sale. If you dislike brokers, it’s actually a model taking money out of their pocket. You’re talking easy 5 figure annual investment for a semi desirable zip code. I don’t even want to know what 7 figure home price zip codes go for.
I don’t understand antitrust laws, but if NAR could get brokers to stop paying Zillow for just one week, they’d be out of business. Fact is realtors gave Zillow and the likes the keys to the front door. They walked in and took the fridge and stove and are now selling it back to realtors.
If you want to make some money, find a legit product you can sell to realtors. They’re some of the dumbest and most gullible (easy to sell to) people on the planet.
What does it say about the economy we are living in? Some people need that $800 / day to live like they are living today. The local taxes are based on this. Some pensions and retirements are based on this. Some restaurants and other parts of the service economy are based on it. Maybe even some high earners salaries are based on this. And who pays for it? Most likely mortgage debts.
In the end, this is the real reason home prices are going up.
What happens when we go the other way? Interest rates start rising, debt dries up, cash is used to repay debt, etc.... Helicopter money will save us?
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