I mean, how can a house flipper get stuck with 7,000 houses? I mean, buying houses is easy if price doesn’t matter. Zillow is likely to sell the houses to a multitude of investors, rather than selling all of them in a single transaction, the sources said. Instead, it’s pitching these houses to institutional investors, trying to get $2.8 billion in total, according to sources cited by Bloomberg. One, Zillow is now trying to dump about 7,000 houses, but not to individual homebuyers as originally planned as house flipper, which is obviously too hard and painful.
When real-estate-listing-site-turned-house-flipper Zillow announced on October 18 that it suddenly stopped buying houses, it blamed the labor and supply shortages “in the construction, renovation and closing spaces.” That turns out to have been a joke, it seems, as two things have emerged today: How Zillow helped whip house prices higher and got caught with its pants down (AI = artificial idiocy?).
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