a Loss
Zillow is now trying to dump about 7,000 houses, but not to individual homebuyers as originally planned Instead, it’s pitching these houses to institutional investors, trying to get $2.8 billion in total, according to sources cited by Bloomberg.... KeyBanc Capital Markets came out with an analysis of 650 homes owned by Zillow that are currently listed on the market, and found that 66% of them were listed below what Zillow had paid for them, with the average listing price being 4.5% below the purchase price.Even if it can sell those houses at 4.5% below the purchase price, there are still all kinds of costs involved in flipping a house, and so, even if it can sell at asking price, it would pocket some big losses...."
wolfstreet.com/2021/11/01/...take-one-time-noncash-charge-no/