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

Yeah they had an automated homebuying algo. It probably got a lot right and a lot wrong. In the end they may have made a big profit, but they will sell out of some of their positions at a loss. That's trading.

Most of you don't understand there were mortgage bailouts that all ended in October.

Last Edited by Lord Earl of Greywater on 11/05/2021 11:00 AM

was quoting the post just above that got edited

Last Edited by oniongrass on 11/05/2021 11:02 AM

I understood zillow paid full plus price in Phoenix metro market over 2 months ago and 3 weeks ago they dumped 600 approximately houses suddenly at 33 percent less than they just paid for them.

Bank America announced at the time that zillow was in downward pressure this quarter.

I lived 2008-2009 crash. Phoenix played leading edge role then, too.

Housing nationwide generally is now gaining volume, leading to price reduction.

Look out. History loves to repeat itself.


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I understood zillow paid full plus price in Phoenix metro market over 2 months ago and 3 weeks ago they dumped 600 approximately houses suddenly at 33 percent less than they just paid for them.

Bank America announced at the time that zillow was in downward pressure this quarter.

I lived 2008-2009 crash. Phoenix played leading edge role then, too.

Housing nationwide generally is now gaining volume, leading to price reduction.

Look out. History loves to repeat itself.


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Zillow thought there was a housing shortage too, that is why they thought buying up housing would be a gold mine, but then they probably realized the shortage is an illusion created by large financial institutions and foreign investors cornering the market on housing.

The financial institutions are sitting on a lot of houses and have been for a long time. In fact many of the houses that have been bought up are being converted to rentals to cover the cost of upkeep, while they sit on the banks balance sheets.

And that upkeep is the problem of trying to corner the market in housing vs trying to corner the market on silver, which has been attempted before; homes cost a lot in upkeep.

None of the shortages are real, including the housing shortage. The economy is not even real and hasn't been since quantitative easing started back in 2007. Hell the market was green when the global production shutdown and oil was in the negative.

We live in fantasyland on the other side of the looking glass, nothing but financial crooks using financial tricks to game the system now. The corruption has become endemic.

Last Edited by themessengernevermatters on 11/05/2021 11:14 AM

Warren Buffet's stock made the Single largest day gain in US History last week.

All he did was start buying more food companies and Grocery stores.


Why do you think that is?

But they tack all those payments on to the END Of the mortgage. They don't make the mortgage holder pay off all the late payments at once, right now.

This does not create a big foreclosure situation.

Last Edited by Butch DeFeo on 11/05/2021 11:22 AM

Actually this is EXACTLY what happened in the late 80's early 90's with the savings and loan crisis...driven by....you guessed it, over inflated housing prices.

I witnessed it first hand. We had to dispose of an entire banking system to "solve" the problem. we don't have the luxury of doing this (or dropping interest rates to 0% like we did in the 2008 crisis).

We're in for a hell of a ride now....

That's not a shortage its just newness addicted twats with too much money.

"Hey man I can have as much money as I want!"

"Yeah but it makes you stupid and the wolves will come"

"So, go be a wolf in some trailer park."

"..."

Yep..people forget that houses are "wasting assets" and not really an asset at all, but a liability. Banks have been scamming people for decades by telling us non-cash flowing things are assets. They are just things but mostly liabilites.

Hence the line in fight club "Things you own end up owning you".

Asset = Thing that produces more money than it consumes.
Otherise it's a liability. This is a simple fact we have forgotten.

Last Edited by Fingulas on 11/05/2021 11:29 AM

a lot of people that accepted forbearance lost their jobs. Unless they fixed that situation in the past year, there will be foreclosures as a result now that the moratorium is lifted. If they are employed again and want to bring the note current, yes the banks will just tack it on to the end of the note. We will see.

They are dumping houses for way less than they paid for them.
esp in Atlanta

Brandon is a bigger disaster than Clinton's 2007 housing collapse.

Then Atlanta must have a shitty low real estate market. No one wants to live there.

Housing markets in the free states like Florida, Tennessee, and Texas, etc., are still on fire, and still rising. It is insane in the Nashville area, and for as much as 75 miles out.

Biden giving 450 k to every border crosser and they don’t need vaccination

The market is going to be red hot

Or they will just kill us and let the islamists have it

Yeah this is going to be worse than bad, I'm dumping inventory now.

if you go to any of the major real estate sites in at least my area.

I'm seeing price drops on every single listing 10,000 to 20,000

Last Edited by Lord Earl of Greywater on 11/05/2021 11:57 AM

meanwhile, biden's economy is sliding off a cliff.

Hello Blackrock

That rock has blood in it.

"If it bleeds..."

China's Worsening Economic Collapse Is Now hitting The U.S Economy & Markets

how many new homes are being built ? the house shortage is the same as the car shortage - when construction hualts because of the mandate less houses will be built- why would everything else go up due to inflation except for houses ? you people who have this weird fantasy of houses going down to the point where a McDonalds worker can buy one is retarded - have a nice day -

Well yes, older homes can be useful as can older cars and trucks.

Unless one has a bunch of builders to feed, and also a newness addiction.

HGTV is a mental illness cult.

Damn y’all are nosy neighbors. Glad I don’t have any neighbors I’d be annoyed if they were studying my movements and habits

Mark em down, if they are out of the way you can grab some buddies and squat in them. It is a good habit to markdown vacant homes if you are going to be street people. just remember not to destroy the place, that is a very bad habit.

It don’t matter anyway because the fucking hedge funds are going to buy them for cash and if that fails the Chinese will buy them up.

I put up a full six foot wood fence in my trailer park.

Owners did everything they could to take it down, literally handcuffed me, cornered my lady inside my home while I was then locked up, etc.

It's still up and also I stuck a wood stove in it with a chimney out the side. ILLEGALLLITY!!

The Founders and Patent owners of The Jabbinsky Protocols, want us all below certain 'income' which is a bullshit word, to starve and die and freezer.

I say fuckin make me.