Why is Zillow selling most of their Phoenix portfolio at a loss and more than half of their houses in DFW at a loss if RE is continuing to appreciate?
Bonfire97 said:
I have come to the conclusion that there will never be a crash. Their game is to keep printing money and inflating the currency so they can pay back debt in cheaper dollars. We are all going to be paying $10 for a loaf of bread like Mexico. These fed A-holes know exactly what they are doing. Biden is just carrying this on. This started under Obama in 2008 and went on steroids under Trump in late 2019 when the fed started the injections prior to Covid. We are just now on an exponential curve. I'd like for someone to post facts proving me wrong.
Is that because of the RE market, or because Zillow is a tech company that doesn't know **** about RE?AggieDruggist89 said:
Why is Zillow selling most of their Phoenix portfolio at a loss and more than half of their houses in DFW at a loss if RE is continuing to appreciate?
There may be pockets of significant disruption in real estate (looking at you Canada), but you almost never have 2 of the same types of crashes consecutively.... fighting the last war and all.AggieDruggist89 said:Some signs of market shift in San Jose CA area....hamean02 said:
I wouldn't hold your breath on real estate crashing.
AggieDruggist89 said:
Why is Zillow selling most of their Phoenix portfolio at a loss and more than half of their houses in DFW at a loss if RE is continuing to appreciate?
as I posted in the follow-up to your post in the RE forum...no it wasn'tAggieDruggist89 said:
As I posted on the RE forum, Zillow iBuyer sector was very profitable until recently. There are alot of truths to your point but if the market continues to rise with 50 cash offers with no contingencies, Zillow would still be in it.
Diggity said:as I posted in the follow-up to your post in the RE forum...no it wasn'tAggieDruggist89 said:
As I posted on the RE forum, Zillow iBuyer sector was very profitable until recently. There are alot of truths to your point but if the market continues to rise with 50 cash offers with no contingencies, Zillow would still be in it.
Diggity said:
Zillow has never turned a profit with ibuying. The last few quarters (prior to the current one) were their best.
AggieDruggist was suggesting that a market correction is to blame for this, but Zillow couldn't even make money when appreciation was at its highest.
Their acquisition costs have always been too high in order to capture market share. It's a bad model plain and simple.
Which means it's about to crash; heard a lot of this in 07-08 as well.hamean02 said:
I wouldn't hold your breath on real estate crashing.
Ag CPA said:Which means it's about to crash; heard a lot of this in 07-08 as well.hamean02 said:
I wouldn't hold your breath on real estate crashing.
in phase 3 of my prediction...Ag92NGranbury said:
Unneeded stimulus --> Inflation --> Fed has to raise rates quicker --> Economic Recession
I'm loaded for bear.... just not sure when the bear will appear... 2023?
I wasn't yelling..Brian Earl Spilner said:
Why is OP yelling at us though?
A Major Dip gets us where we were maybe 6 months ago. Waiting gets you what?AggieDruggist89 said:I wasn't yelling..Brian Earl Spilner said:
Why is OP yelling at us though?
Hoping for a major dip soon. Then get out of CASH...
That's just the sign of an idiot - a bubble is when a lender gives him a $17M loan on that ranchSully Dog said:
I just watched a guy pay $19M for a ranch in desert part of Wyoming that can hold 550 head. This has to be a bubble.
jws87ag said:That's just the sign of an idiot - a bubble is when a lender gives him a $17M loan on that ranchSully Dog said:
I just watched a guy pay $19M for a ranch in desert part of Wyoming that can hold 550 head. This has to be a bubble.
I know nothing about ranching but thought it might be fun to take a swag at evaluating an ag property. Assuming it takes 1.5 years to raise a 1000 pound Burger on Wheels (BoW) which then sells for $1.50 per pound you're looking at annual revenue of $1000 per BoW. Assuming feed, vet services, and other operating costs range between $250-$500 per BoW per year, annual profits are between $500 - $750 per BoW.jws87ag said:That's just the sign of an idiot - a bubble is when a lender gives him a $17M loan on that ranchSully Dog said:
I just watched a guy pay $19M for a ranch in desert part of Wyoming that can hold 550 head. This has to be a bubble.
barnag said:jws87ag said:That's just the sign of an idiot - a bubble is when a lender gives him a $17M loan on that ranchSully Dog said:
I just watched a guy pay $19M for a ranch in desert part of Wyoming that can hold 550 head. This has to be a bubble.
Maybe he paid cash
OldArmyCT said:A Major Dip gets us where we were maybe 6 months ago. Waiting gets you what?AggieDruggist89 said:I wasn't yelling..Brian Earl Spilner said:
Why is OP yelling at us though?
Hoping for a major dip soon. Then get out of CASH...