Real estate company Zillow recently announced it is shutting down its house flipping unit Zillow Offers. They currently have thousands of homes in their inventory which they will have to dump at fire sale prices which will lead to hundreds of millions of dollars in looses. The stock price fell ~35% on the news wiping out nearly $10 billion of market cap. In this video we go over what Zillow’s house flipping business was, why it failed, and what the future prospects is for the company.
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