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We all know the housing market is a little bit crazy right now. Some people have started to get used to the idea of 20% increases in price, but the reality is, that is a crazy number. Go back even just a couple of years, and if someone told you that the housing market would increase by that sort of amount, and even more in certain areas in just one year, after a worldwide pandemic no less, you would probably try to have them sectioned. It’s no surprise then, that many people are starting to wonder when this crazy market will end, and it appears that Zillow is no different in that sense.
Yep, you heard me right, Zillow, the billion dollar real estate platform that dominates its market in the USA, is starting to look like it’s predicting a housing market crash. Their ibuyer program is being halted, seemingly out of nowhere, as the company struggles with the mounting losses that are coming from what we all thought was one of the strongest markets in the country. Today, we’re going to look into what has actually happened, why it might have happened, and what it might mean for the future. But really quickly, if you’re new to the channel make sure to subscribe, if you enjoy this content make sure to like the video and leave a comment for the algorithm. Also check out our Patreon where you can join our exclusive investors community, gain access to loads of private content, and support the channel.
Articles from the video are here, if you can’t access them due to a paywall, they’re all on my Patreon as well: https://www.bloomberg.com/news/articles/2021-10-18/zillow-s-flipping-snag-spotlights-risk-in-cooling-housing-market
https://www.businessinsider.com/zillow-offers-ibuyer-sell-phoenix-homes-at-a-loss-2021-10?r=US&IR=T
#HousingCrash #Zillow #HousingBubble
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