5
0

Zillow Seriously Miscalculated


 invite response                
2021 Sep 18, 9:20pm   8,231 views  120 comments

by Malcolm   ➕follow (0)   💰tip   ignore  

Zillow's new business of flipping houses may have created this recent price surge in California. Unfortunately, that means that they have to be the high bidder in bidding wars. It is a very dangerous business model to be such a large player in a self perpetuated price bubble. I am seeing major discounting in San Diego and this example could signal a real problem for Zillow.



Note the current asking price. Note that it is a Zillow owned home.




Note what Zillow paid for it on July 9th.




Now note what they listed it at, the prices changes, and the current asking price.

How many million dollar homes can Zillow afford to buy, to rehab, and then to sell for less than they paid for it in the first place?

« First        Comments 116 - 120 of 120        Search these comments

116   RWSGFY   2022 Sep 29, 9:42am  

zzyzzx says




They did shut it down many months ago.
117   stereotomy   2022 Sep 29, 10:03am  

RWSGFY says

zzyzzx says





They did shut it down many months ago.

Did they shut it down, or just turn it clockwise (to tighten, instead of loosing).
118   Eric Holder   2022 Sep 29, 10:58am  

stereotomy says

RWSGFY says


zzyzzx says






They did shut it down many months ago.


Did they shut it down, or just turn it clockwise (to tighten, instead of loosing).


Shut down as in "fired everybody involved in".
119   zzyzzx   2022 Oct 26, 11:28am  

https://techcrunch.com/2022/10/26/zillow-layoff-300-employees/amp/

Zillow lays off 300 employees in latest workforce shift

« First        Comments 116 - 120 of 120        Search these comments

Please register to comment:

api   best comments   contact   latest images   memes   one year ago   random   suggestions