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Generally, things like this mark a top in the market. Zillow will get caught with a ton of inventory that they can't sell, and then take a huge loss trying to u
by pfarnsworth 9y ago
Generally, things like this mark a top in the market. Zillow will get caught with a ton of inventory that they can't sell, and then take a huge loss trying to unload them for cash. It probably won't happen right away, but I can totally see it happening in the next year or so.
- what-the-grump 9y agoIt’s what happened to all the billionaires that got into the NYC market in 2007. Sold everything at 50+% loss and shit on the economy.
- winslow 9y agoCan you expand on this a little bit? Billionaires wouldn't necessarily unload their properties when the market took a dump. If anyone, billionaires would be the most likely to be capable of weathering the storm (depending how leveraged they were) and hold on to the property until present day where property values are generally back to where they were circa 2008 housing bust.
- tehlike 9y agoThey are market makers, they will profit off of this.
- toasterlovin 9y agoIf you’re selling, you need buyers. If there is an economic downturn, there won’t be buyers. There is no way around this.
- tehlike 8y agoBut if you are constantly buying, a down market is actually good as it is followed by a bull run. If you have funds (and zillow would) each doen market is am opportunity to buy some houses for cheap. Put some make up, and eventually it will have buyers, in good markets. Similar to accumulating stocks. Downturns are an opportunity to buy some stocks for cheap.
- burlesona 9y agoSure seems like it to me. When everyone knows you better get in now because the market is only going up....