Zillow to stop flipping homes, loses more than $550M, lays off 25% of staff

Re:Zillow to stop flipping homes, loses more than $550M, lay... by maxerickson on Tuesday November 02, 2021 @07:35PM (#29089017)

If you're buying a home right now, make sure you're moving somewhere you're willing to live for a while and that you're not going to be in financial duress if your home loses 20% of its value.

That's an odd way to say "I think you should probably consider renting right now" (which is absolutely what you should do if you think housing is likely to drop 20%).

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Re:Zillow to stop flipping homes, loses more than $550M, lay... by emodendroket on Tuesday November 02, 2021 @07:55PM (#29089223)

That’s OK, if you’re trying to time the market, let alone based on forum comments, you’re already making bad decisions, so why not compound them

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Re:Zillow to stop flipping homes, loses more than $550M, lay... by maxerickson on Tuesday November 02, 2021 @08:03PM (#29089306)

To the moon!

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Re:Zillow to stop flipping homes, loses more than $550M, lay... by woeirua on Tuesday November 02, 2021 @11:47PM (#29090920)

I actually don’t think you should be renting right now. Even if house prices were to fall by 20% tomorrow it would still be cheaper to own than to rent in most cities right now. That may not be true as interest rates move higher down the road.

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