Just need to vent about this crazy housing market. I’ve noticed that Zillow, Opendoor and Redfin are speculating in houses. They bought up houses in the spring, then relisted them 2-4 weeks later for $50-100k higher, without any work done on them. It’s not even flipping, it’s just pure speculation. I’m seeing the prices for some of those homes drop to below the original purchase price now. I hope they’re left holding the bag when the market corrects. It’s absolutely outrageous. 😡

like
Posting as :
works at
You are currently posting as works at

How is this legal?? Seems like market manipulation

like

1. Zillow is not the platform. The platform is MLS.
2. There are literally dozens of companies posting “we buy your home for cash” fliers all over my neighborhood. They are doing the same thing as Zillow - buy a home, and resell for higher. This is the same as high-frequency traders in the stock market. It’s not illegal, and is not market manipulation.
3. Zillow is operating at a scale those others can not match, and they do it by having better data. Anyone can get a license for MLS access and do the same thing as Zillow. Anyone can build their own Zillow/Redfin experience and capture visitor data to better inform their buying and selling patterns. Another stock market example: how do you think Robin Hood and other brokerages make money off of free trades? It’s not market manipulation to use your proprietary knowledge of market trends to make deals in the market.

like

Are they actively making offers on homes listed for sale? Or is it sellers choosing to directly sell to them the same way you’d go to Carmax/Carvana to sell your car and avoid the usual hassels?

When literally every home on the open market is selling for 10-15% above asking I think it’s fair to say that the homes are being listed below market value. Zillow doesn’t have the capital to be doing it at enough scale to cause market distortion at even the LA regional scale let alone the national trends we’re seeing.

Related Posts

What's the best airline stock to get into before the possible travel rebound next year? Do you also get in now or Q1/Q2?

like

New in the bowl — knew about crypto for last 5-6 years but didn’t trust it enough, highly regret. Are people still buying BTC and ETH? Or am I too late to the game? Also — what % of your NW are you parking in crypto? Thanks!

likefunny

How much money do you actually make from your side gig? What percentage of your income does it contribute?

like

Let’s finish this up strong! What are your year-end self development plans?!
We have our last session of the year of our group/guest financial education cycles at our Downtown Toronto office this Saturday. We go through our first financial education session that we talk about basic to higher level of financial information; from saving, investing, risks and returns, registered accounts, etc. There is no cost and no obligation. If you are interested to attend in-person or via Zoom, let me know.

Post Photo
like

Working on buying a home. Got great rates with a lender. While signing, noticed that I was marked as a Permanent Resident Alien. I'm on H1B.

If I tell my lender that I'm a non-Permanent Resident Alien, would there be any issues vis a vis rates? or actual approval?

I have 3 more years left on my visa and I have very good credit history over the past 6 years

like

Laaa laaaaaaa lala wait till i get my money right (just accepted a PE offer woo)

likefunnyuplifting

I received my fnf from Accenture today. I don't know why 18k as 'other perquisite' is mentioned in income tax computation sheet?

like

Currently 23yo with $65k in cash and $14k in student loan debt. Not sure what the best course of action is. What would you do?

like

Hey ENGINEERS, anyone needs any assistance in Income Tax return filing, please DM me.

like
like

Anyone else pretty terrible at managing their own finances? I have an embarrassingly little amount of cash saved.

like

Been here several years. Only just clicked to me how predatory Big 4 are.

Business model is to use cheap, underpaid labor from college grads who can't go elsewhere or pay debts. Churn em and burn em.

likefunnyupliftingsmart

Hello everyone, I'm trying to get into real estate investing. Some of the books I've read have talked about buying a multi unit property and utilizing investors to get the necessary capital. Does anyone have experience in getting investors? How do you identify investors who may be interested? Are there any sites where you can invest in or post investment opportunities?
Thank you in advance.

like

Thoughts on SCHD for Roth IRA. Currently have FBGRX and thinking to add SCHD. Will it be a good diversification?

like

Anyone still holding up those stocks? Chances of regaining the momentum in the near future?

like

Opinion on the Milton (Cambridge high) vs Suwannee (Peachtree ridge high) to buy a house? Have a 3 yr old.

like

Quick question - my package includes some fixed component for housing. Say if I spend less than that at actuals, I cannot claim the full amount?

Post Photo
like

Let’s finish this up strong! What are your year-end self development plans?!
We have our last session of the year of our group/guest financial education cycles at our Downtown Toronto office this Saturday. We go through our first financial education session that we talk about basic to higher level of financial information; from saving, investing, risks and returns, registered accounts, etc. There is no cost and no obligation. If you are interested to attend in-person or via Zoom, let me know.

Post Photo
like

Now that’s what I wanted - good bowl. Come on real estate folks!

like

LCSW 50k loan repayment- Has anyone been granted a contract through the National Health Service Corps Loan Repayment Program? I’m interested in applying for the 2 years of full time work as an LCSW but my loans are a bit under 50k so I’m wondering if they would only give me what I need to clear my loans or would I still get 50k as long as I complete my contract ?

like

More Posts

Where are you from?

like

What's our industry looking for in a Quality Assurance Engineer these days?

like

The week of my wedding, my husband (PL SQL Developer 4 yoe) was laid off. That was a couple of weeks ago. Luckily I'm still bringing money in as a software engineer, but I'm looking for advice on how to support a partner who has been laid off. Ultimately I think we will be ok, but I know he's hurting / stressed / and could use a supportive partner.

likehelpful

Are there any high paying jobs/roles for cloud practitioners not looking to become solution architects or developers? 😅

like

Worthwhile purchase. It has a little kick and a whole lot of sweetness to it.

Post Photo
like

Looking for opportunities for my wife in the analytcis space. She is currently working for Accenture and has close to 5 years of experienceexperience in Power BI and data analytics. Expectations of CTC around 20 LPA

like

Need 11 💟 to unblock DM feature

like

How did each agency celebrate the Christmas season? :) Wishing you all a good rest ahead!

How do you know if your getting paid your worth? Accepted a job offer and haven’t started yet but I’m questioning the offer 😕

likehelpful

Looking for a good personal finance or similar book to read. Any suggestions?

like

What percent do you think big law firms collect on large class action lawsuits? On average, assuming it is all on a contingency basis.

like

What's the current CTC of Consultant 2 in Risk advisory practice?

like

Hi Everyone! I’m looking for AR valuation vendors since our health system has recently expanded. I know Crowe/RCA is a major player in this space. Does anyone know of any competitors to Crowe?

like

Looking for a Netflix intro please!

like
like

Anyone work in alliance management? Would love to learn more about the function!

like

How is the cigna company guys in terms of work life balance?

like

Anyone know if SDNY courthouses have lockers for phones?

like

Let this one sink in

Post Photo
like

Additional Posts in Los Angeles

Favorite road trips out of LA for a 3 day weekend?

like

What is the best place to get a massage?

like

Anyone have a tax professional they'd recommend in LA?

like

Does anyone have any suggestions for inexpensive headshots?

I recently cut my hair and would like to get updated photos for LinkedIn and dating apps.

Thanks for your help!

like

Let’s talk about spiders. They’re EVERYWHERE at my place. Same for you or nah?

likefunny

New to LA... what’s the best places to meet people? I live in downtown

Anyone going to Countdown NYE this weekend? I’m going both days and would love to meet some new friends!

like

Anyone celebrating 4/20 in West La?

likefunny

Any insights/opinions on living in Toluca Lake?

like

making a solo trip to LA this weekend ... any recommendations for good solo activities?

like

Best gyms with fitness classes? (Orangetheory, Barry’s?)

like

That was a fun little tremor last night...

like

Any here hired Hippo Movers before? Reviews look good but then one on yelp made me suspicious if they were fake

like

I want to find a room mate here in Los Angeles, but every site and everywhere that I look, I have no luck! Any suggestions?

like

Was anyone else incredibly disappointed with the Hollywood boardwalk when you first came? I didn't even know 99% of the folks there

likefunny

Super bummed about the hiking trail and beach closures. What are some good outdoor areas I can go to? Walks around my block are getting boring.

like

Any suggestions for outdoor afternoon teas in the area? Want to take my grandma for the holidays.

like

Anyone here move to Los Angeles from Texas?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal