Posted To: Pipeline Press

Real estate investors, agents, and lenders were keenly interested in Zillow’s earnings call yesterday. Those of us listening in learned that the company is ending its home-flipping business and will lay off 25 percent of its staff. No one can consistently, accurately predict housing prices, or rates. In his Basis Point, Julian Hebron addressed the topic of iBuying, aka instant buying , and the lack of connection between a big company muscling its way into thinking it can create instant gains in a traditionally “buy and hold” world. The connections between things are intriguing. Cutting costs and improving efficiency connect to improved profits in a shrinking mortgage market. The Winter Olympics are in February 2022, in China. I mention this because China is cutting its steel…(read more)

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Source: Mortgage News Daily