By Walt Hickey Flipping Houses Zillow, the company people turn to when they’re looking for real estate, has become seriously involved in the actual buying and selling of houses. In its last quarter, $248.9 million of the data company’s $599.6 million in revenue came from buying and selling homes directly. The company bought 1,525 homes from April to June in 15 markets, and sold 768 homes, with plans to be in 26 housing markets by the middle of 2020. Granted, the company posted a $71.1 million loss doing that, but given that the number of homes it bought is higher than the number it sold, I think I can figure out why. The company essentially flips houses, buying up properties and investing in repairs and then selling them, which, sure, sounds great as long as you’re not a human being, attempting to locate any value opportunity in the real estate market, who now has to compete with a rich algorithm specifically designed to exploit those inefficiencies.
That seal story just made me sad. We “evolved humans” are about to wipe another animal species out of existence. We are such fine stewards for the planet...... 😡🤬
Numlock News: August 8, 2019 • Snakebites, Star Wars, Seals
That seal story just made me sad. We “evolved humans” are about to wipe another animal species out of existence. We are such fine stewards for the planet...... 😡🤬