Wednesday, November 10, 2021

They always hide how bad it is.

Zillow Finds Institutional Buyer For 2,000 Homes As Disastrous Flipping Business Winds Down.

From Zero Hedge. "Just 16,000 left to go"

Checks notes - it took them seven days..... to double the amount of houses they are getting rid of. Seven days ago they were getting rid of 7000 houses. Zillow has landed itself into some good old fashioned negative equity. I'm guessing their problem stems from the chart below. But since my new rule is to not fight a printing press - it probably doesn't matter. Look at that crazy jump in April.


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