Zillow lays off 25% of their workforce dumps 7000 homes onto the market as Biden's economy slides off the cliff

Zillow is garbage
They aren't dumping any houses
We have a housing shortage anyways so it wouldn't be dumping in a bad way.
This has nothing to do with the economy. This has to do with zillow being a shit company that was just wrong.

Millions of homes are at risk of foreclosure now that the moratorium on covid foreclosures ended in October

The Shortage was Covid induced and is now over

those houses are not really at risk for foreclosure because what they do with all of those payments that they missed is just tack them onto the end of the mortgage, they don't force them to pay it all at once.

however people might willingly put their house on the market because they just can't afford the payments and more houses might be available in inventory to buy, but it's not going to be foreclosures right away.

millions of small businesses have dried up with the covid lockdowns etc. I think those people are at risk of not being able to pay their mortgage..we will see. Son in law is big realtor guy and he thinks the zillow thing is significant.

well some of them but in many states foreclosures are up over 100%

I don't think we will see a 93% crash but certainly there may be a significant correction a la 2008

Joe Manchin confirms Inflation is not temporary but will only grow worse and both Congress and the Fed know it.


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Zillow made a bad business decision and managed the new business venture poorly. It's not a result of the economy.

This actually won't increase inventory, because these houses were already on the market. It's not the catalyst for a major pull back. You'll have to wait until the Fed is forced to increase interest rates for that.

i didn't watch the video because of the retarded sensationalism.

94% crash?

even in a total doom scenario, no asset will drop 94%.

ie. a house that is now 300k will go down to 18k. uh... no. sorry.

Dow at 35k drops to 2100. uh... no. not in this reality.

I can't watch the total idiots that have to use a total retard leader line of 94% crash.

Is it 7,000 houses across the country all together? Averaged out that would only be about 140 houses per state.

Why is it all the realtors in my area are making bank. Even my best friend in Baton Rouge just broke off and opened his own realty company with his wife and have so much money they don't know what to do with it. Is it just certain areas?

strong armed into selling their houses to blackrock?

who knows what the truth is, everyone is a 9th degree blackbelt trump level liar now

Hum lets see. A shitbox in a shithole town, 250k. They "dumped" houses where?

Likely all in the higher end 700k and up range, that is the range most couples today expect to pay in major cities, 400k in secondary cities, for nice neighborhoods.

There is no housing to buy. I'm beyond desperate, I have no idea where to go or what to do. I cant handle a reno, I already live in a home that needs a complete remodel and I can't get it done.

Last Edited by FlownAwayFeathery on 11/05/2021 10:27 AM

houston market is still red hot

How does anyone expect to keep jobs for the 15-30 years that support a mortgages on a 700K home? Highly optimistic.

Nice neighborhoods? LMFAO. Biden is going to destroy nice neighborhoods with Sec 8 high rises.

Us govt own most ghost housing already and are running dirty operations out of them.... check out Airbnb and see how many of those houses are being used on there.... deep state runs ops from them.. trafficking children and holding them in these houses, monarch children with their handlers, puppy mills..... it’s all being gamed.... earlier, this is why Airbnb advertised they would take in 7000 refugees.... but here’s the kicker..... China owns Airbnb.... and again.... China and us are in cahoots..... Americans are being played big time........

I don't see a housing shortage near me.

There are tons of new developments and houses being created/built everyday.

Sometimes I REALLY think we're all living in one of 2 alternate timelines.

I often see things that others in my life don't, and vice-versa.

Am I the only one experiencing this?

Zillow bought homes at all time high 30% above market via AI this has nothing to do with Biden

TrumpTards

Zillow made bad business decisions & pushed expansion in a way the company wasn’t prepared for.

I’m sure some areas are in different situations but my neighbor just last week (FL) popped an open house sign in his yard on Thursday for Saturday showings. House was under contract on Friday, above asking and they saw a 49% increase from purchase barely 5 yrs ago.

Family in rural southeast US was dealing w an estate and put a 40yr old home on the market, absolutely no repairs, just cleaned. It’s under contract at list, 1k in concessions possible, in under 2wks.

I'm in RE in a GIANT Leftist shithole city and it is still pumping. New construction sales have slowed quite a bit but there are still lots of people buying and refi'ing.

A salesperson for a semi-custom tract home builder told me that their entire sales staff was put on hold because they were so far behind in actual construction. Apparently they are having a hard time finding sub-contractors and materials. And not just lumber....appliances & flooring are becoming scarce. So anyway, he said he is on a selling freeze for an undetermined length of time as they build out existing inventory.

“Despite these notable monthly increases, along with the substantial uptick compared to a year ago, foreclosure filings remain well below pre-pandemic levels. Foreclosure activity is expected to continue increasing over the next few months; however, ATTOM still predicts lower than normal foreclosure levels through the remainder of the year. ” [link to www.sofi.com (secure)]

hmmm..pedo burisma biden fan I see

Tons of new construction around me too, but we’re still in a shortage. Supply isn’t meeting demand & supply chain issues creating even longer wait times isn’t helping.

Hyper Inflation is here retard... People wont be able to make their payments.

listen to Joe Manchen, He knows what he is talking about

these foreclosures are just the tip of the iceberg.

Now you have the mandates and the firings coming..


It will totally collapse the markets.

Foreclosure starts jumped 32% in the third quarter of this year from the second quarter and were 67% higher than the third quarter of 2020.

Foreclosures in Durham County up 150%, in Wake County, up nearly 68%

[link to www.wraltechwire.com (secure)]

Last Edited by Lord Earl of Greywater on 11/05/2021 10:59 AM

Interesting that you say this.

One of my kids recently asked me if I ever noticed any of our neighbors coming home with groceries or getting packages delivered to their homes.

I actually hadn't thought about it until they brought it up.

I NEVER have.

We moved into our development 2 years ago (they're still building homes in it), but it seems that we are the ONLY house (among 8) in our little corner, who ever goes shopping and comes home with physical items.

I used to see people bringing stuff in and out of their homes all the time in our old neighborhood. Throwing away garbage, buying new toys, etc.

It's as if these folks moved their 'stuff' in all on the same day (within an hour or two, oddly enough), and have never needed anything else.

We have been out at all times of the day and evening, but never see any of them coming or going (they rarely come out of their homes) and they NEVER have any packages or food deliveries, etc.

By the same token, we haven't ever seen or heard anything weird or unusual coming from the homes, either.

Very strange indeed.