Zillow STOPS buying homes…housing crash is here!

Zillow stops buying homes and lays off 25% staff…What the heck?! This is a strong market signal that the housing crash is here! The labor shortage, supply restraints and material cost are definitely one of the reasons for this sudden movement, but there’s more to that. In today’s video, I explains 5 reasons why Zillow suddenly stopped buying homes and what it means for the housing market.

It just so happens that on November 3rd, the Fed officially announces the start of tapering by $15 billion per month. This is the most important news since the 5th round of quantitative easing. The housing speculation is extreme during this time and it marks the end of housing boom and easy money policy. Zillow is eager to get rid of its housing inventory which will also affect other corporate buyers and investors. It’s a set off for the housing crash and the 2022 housing market will be totally different than 2021. Check it out!

References
Fed tapering decision November/2021:

Zillow’s statement to halt buying homes:
https://investors.zillowgroup.com/investors/news-and-events/news/news-details/2021/At-Operational-Capacity-Zillow-Offers-to-Focus-on-Signed-Customer-Contracts-and-Current-Inventory-Suspends-Signing-of-New-Contracts-Through-2021/default.aspx
Zillow bought and sold more than 10,000 homes
https://www.reuters.com/breakingviews/zillows-failed-house-flipping-2021-11-03/
Zillow selling 7000 homes:
https://finance.yahoo.com/news/zillow-seeks-sell-7-000-184559654.html
Zillow stock:
https://finance.yahoo.com/news/zillow-seeks-sell-7-000-184559654.html
Zillow homes listed below purchase price:
https://www.marketwatch.com/story/zillow-stock-dives-after-analyst-highlights-two-thirds-of-homes-bought-are-underwater-11635785293
Zillow lays off 25% staff:
https://www.businessinsider.com/zillow-homebuying-unit-shutting-down-layoffs-2021-11
Rex filing anti-trust lawsuit against Zillow and NAR:
https://www.bizjournals.com/seattle/news/2021/09/03/judge-denies-zillows-motion-to-dismiss-rex-lawsuit.html

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#Zillow #housingcrash #Fedtaper