Are you going to buy it back?Open door now asking 17k less than they paid me for my house. They originally listed it for 80k more than they bought it for.
Are you going to buy it back?Open door now asking 17k less than they paid me for my house. They originally listed it for 80k more than they bought it for.
Which isn’t unusual, right? New concept, early adapters make money, lots follow, only a few surviveA lot. All of the VC money has dried up since the Fed started raising the rate. The multiples on all of these companies have fallen through the floor due to it. We're going to have a shakeup where only the top one or two survive. Same thing with instacart type companies, delivery companies, etc. They've all been running negative to build market share. They can't survive that way now.
True you always get the copycats on anything that's successful. I think the difference here is that we're going to see the death spiral happen quicker now than it would happened over the last 10 years. The "free" money from the Fed had been allowing them to limp on longer than they will now.Which isn’t unusual, right? New concept, early adapters make money, lots follow, only a few survive
yes - rates were kept too low, too long.True you always get the copycats on anything that's successful. I think the difference here is that we're going to see the death spiral happen quicker now than it would happened over the last 10 years. The "free" money from the Fed had been allowing them to limp on longer than they will now.
The global world/economy is now literally a trading block. Long time coming. But we seem to be there. Debt. Refinance debt. Rinse and repeat for the big boys.yes - rates were kept too low, too long.
We are seeing this in the company I work for - 50% bought out by a private equity firm whose business model is centered around high leverage debt to fund acquisitions to grow the business, then sell. This only works with free money (or basically free).
Good. Hopefully they get stuck holding the bag instead of the little guy. Unfortunately, they'll likely find their sucker. The big banks/players always do by sweetening the deal by easing application standards or enticing new buyers somehow with a catchy gimmick or two.opendoor still has not sold my old house lol
If they have it on market for 20k less than I sold it to them for at this point. Def bag holders in this scenario.Good. Hopefully they get stuck holding the bag instead of the little guy. Unfortunately, they'll likely find their sucker. The big banks/players always do by sweetening the deal by easing application standards or enticing new buyers somehow with a catchy gimmick or two.
The likes of BlackRock and others will be bailed out anyhow. So they don't care. All while they were allowed to borrow almost free/cheap debt to buy up everything... What a system.
We're definitely seeing a bifurcated market right now. Significant slowdowns in mortgage demand and increasingly over supply of hyper inflated house prices equals one thing from my perspective.. lower rates and prices to create demand.If they have it on market for 20k less than I sold it to them for at this point. Def bag holders in this scenario.
Plus they have owned it since like february
opendoor still has not sold my old house lol
Well their margins even if their business model were run perfectly were only projected to be 1-2 percent. Soon as I saw that I ruled out ever investing in the company.Opendoor is a disaster. It's only a matter of time until someone buys up the whole company on the cheap. Otherwise they are headed for an ugly bankruptcy.
Opendoor is a disaster. It's only a matter of time until someone buys up the whole company on the cheap. Otherwise they are headed for an ugly bankruptcy.
I think those businesses need to be local and nimble. I'm not sure a national business model will work with razor thin profit margins and extreme variation between markets.
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