HOMEOWNERS HAVE LOST 1.5 TRILLIOIN: https://www.newsmax.com/newsfront/h...=DM397792_11082022&s=acs&dkt_nbr=010102es9ifb
I never heard of Opendoor until I saw your post a few moments ago.Opendoor Technologies Inc. (OPEN)
$1.5050/sh -0.2300 (-13.2565%)
As of 10:11AM EST. Market open.
Check out Carvana. Same stuff except cars instead of houses. Also about to go bankrupt.I never heard of Opendoor until I saw your post a few moments ago.
Instead of researching the company- I researched the executive compensation. Executive compensation will tell me if Opendoor was built to "take the money and run"- or was executing a long term business plan through market cycles. Looking at the top guy's compensation- Opendoor appears to have been built to "take the money and run". I think this is the case with many in the real estate business. Make a decade of money in one year- and go bankrupt the following year.
Opendoor
Eric Wu CEO
2021 compensation- $112,333,540
2020 compensation-$370,240,992
2019 compensation- $275,000
That housing marketplace itself is currently displaying worse case dimensions of a normalized/ typical housing market. I am tracking prices/ sales in over a dozen locations west of the Mississippi river and am not seeing any quantitative stress on housing prices., when using JAN 2021 as a marker.
My sister purchased a townhouse from Opendoor a couple of years ago in the Nashville area and was definitely not impressed...she won't do it again.I never heard of Opendoor until I saw your post a few moments ago.
Instead of researching the company- I researched the executive compensation. Executive compensation will tell me if Opendoor was built to "take the money and run"- or was executing a long term business plan through market cycles. Looking at the top guy's compensation- Opendoor appears to have been built to "take the money and run". I think this is the case with many in the real estate business. Make a decade of money in one year- and go bankrupt the following year.
Opendoor
Eric Wu CEO
2021 compensation- $112,333,540
2020 compensation-$370,240,992
2019 compensation- $275,000
So far (invokes Homer Simpson meme). Give it another 1-2 YEARS and you will. The housing market isn't crypto or stocks, it moves slowly on it's way down. I would also suggest that since housing is mostly purchased on borrowed money, but stocks are not, that the housing market will fall farther than the stock market since (presumably) it's more rate sensitive.I am tracking prices/ sales in over a dozen locations west of the Mississippi river and am not seeing any quantitative stress on housing prices., when using JAN 2021 as a marker.
My sister purchased a townhouse from Opendoor a couple of years ago in the Nashville area and was definitely not impressed...she won't do it again.
SS,I still have my old house. 8 months after buying a new one.
What a thorn in my side!
Its about time and it was due. The only reason for the massive appreciation was historical artificial low interest rates. These "stories" in some ways are click bait because they don't tell the complete story.HOMEOWNERS HAVE LOST 1.5 TRILLIOIN: https://www.newsmax.com/newsfront/h...=DM397792_11082022&s=acs&dkt_nbr=010102es9ifb
Does it site how much home owners are still ahead even after the "loss"?HOMEOWNERS HAVE LOST 1.5 TRILLIOIN: https://www.newsmax.com/newsfront/h...=DM397792_11082022&s=acs&dkt_nbr=010102es9ifb
Does it site how much home owners are still ahead even after the "loss"?
That's probably one of THE WORST websites to site for anything...................
Watching trends closely. Every trend is showing a GAIN of no less than one percent in the average price of single-family homes in the West, mountain West, Southeast, Southwest, and South.
Zillow forecasts don't align with your cartoons. Received earlier today, Zillow is forecasting a four percent rise in prices in the Midway, UT area over the next year.
Zillow is not an unbiased source of real estate pricing predictions. They shut down their home flipping business because they were losing money on it.Zillow forecasts don't align with your cartoons. Received earlier today, Zillow is forecasting a four percent rise in prices in the Midway, UT area over the next year.
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You mean if you tell people your house is worth $300k and have a graph that says it will be worth $400k next year it doesn’t actually change how much they will offer?Zillow is not an unbiased source of real estate pricing predictions. They shut down their home flipping business because they were losing money on it.