In the first hour after the announcement, Zillow stock fell about 3 percent in after-hours trading.
Investors don’t like it.
Opendoor also does this. They wont go into bay area market. But hanera should be afraid.
Hanera? I thought he blew away the competition on his primary. These guys won’t pay market price.
I was joking. Hanera is onr of the few that invested outside of bay area.
Manch@ said re investors hate it, but nothing to worry in bay area.
Got it! I think Manch was referring to stock investors not RE.
Stuff like this usually happens during the mania before the end of the bull run. Values increase a lot in the mania phase.
I wonder if they’ll surpress showing a MLS listing if they’re algorithm flags it as a bargain that they should buy.
I didnt fully read it! Lol. That might actually br a good revenue source, better than their current one.
Flipping is much more capital and labor intensive than running a website. So it looks to me Zillow is bumping into a ceiling with its current business. Definitely bearish.
Are we near the end?! Are we near the end?!?!
I was imitating your usual behavior
I hate Zillow. But I will sell them my dogs.
Of course they are hitting limits of website. I thought that is why it is bullish? Opendoor is making a lot of money this way, afaik, but happy to be proven otherwise.
How do you know they are making a lot of money flipping? What’s their ROA?
there’s some thought-piece:
I haven’t fully read it, but looks interesting.