Theres a good video here from a british hedge fund manager on why zillows real estate market making doesn't make sense: https://youtu.be/eDc4saE5m9k https://you

Theres a good video here from a british hedge fund manager on why zillows real estate market making doesn't make sense: https://youtu.be/eDc4saE5m9k https://youtu.be/eDc4saE5m9k The main insights are that market makers hold assets for a short period of time making money on the spread between buyers and sellers offers. Zillow had to hold on to houses for a long time and was speculating that the houses would be worth more in the future which is not market making.