News for hackers. Stuff that matters.

A comment on Zillow to stop flipping homes, loses more than $550M, lays off 25% of staff. Parent comment

Re:Zillow to stop flipping homes, loses more than $550M, lay... by vineyardmike on Tuesday November 02, 2021 @06:19PM (#29088222)
> the carrying costs of the properties until they (eventually) sell would eat all of their profits.

Yes, they have to pay taxes. They have to maintain the property, and check on it against break-ins. There is a lot of cost to holding a property.

[ Parent | on HN ]

There are no comments on this comment yet.