lmao

10 points

:michael-laugh: :michael-laugh: :michael-laugh: :michael-laugh: :michael-laugh: :michael-laugh: :michael-laugh: :michael-laugh: :michael-laugh: :michael-laugh: :michael-laugh:

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8 points

:michael-laugh:

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3 points

Saw some folks speculating.this was a loss leader type program to effectively buy market share as a listing platform

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2 points

they even said as much on earnings calls, though hoped to eventually get more $$ from selling ppl mortgages and other services/ make more money one they “scaled”

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:to-the-moon:

How’s that “disruption” going, Venture Capitalists?

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23 points

Zillow is publicly traded. I guarantee the VCs got out like bandits, while some shlub retail investors were left holding the bag.

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12 points

at least this time RobinHood didn’t have to grey out the “buy” button

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:10000-com:%

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How do you lose over have a billion dollars buying homes over a period where the average home price increased by like 30%?

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Rumor seems to be that lots of homes have been selling above the asking price in cash, so it’s possible that Zillow was buying them at even higher prices than the “market” dictated

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14 points

There was a tiktokker connecting the dots on how they were (attempting to) use their data about which zip codes and incomes like to look at/purchase homes in which areas, and use that for both arbitrage and price inflation purposes. If they think a house, could sell for more than they’re listed for, just snap it up and resell. If an entire neighborhood could be selling for more, start buying up and holding, then wait and sell a couple at whatever you think the average should be for that area. Really creepy shit, and it’s a good thing they fucked it up so bad.

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