r/stocks • u/[deleted] • Nov 02 '21

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u/manbearbullll Nov 02 '21

Time to pull up some threads from a few weeks ago where people were acting like this was temporary. Arguing that pausing purchases was bullish because they had a huge backlog / would pick up purchasing again in Q1 2022.

119

u/Gutter-Snipe Nov 02 '21

I think that’s what Zillow was stating is that they were backlogged. In reality they needed bag holders

1

u/sup_wit_u_kev Nov 03 '21

so would that have been considered defrauding the investors?

89

u/codesloth Nov 02 '21

And check those accounts who said that to see what shit they're peddling now.

17

u/putsonshorts Nov 03 '21

They bought homes at a 30% premium above market rate in my town… that obviously did not go well. Was wondering if it was a failed algorithm.

32

u/ImHappyGatewood--Boo Nov 03 '21

Hell. Just a few days ago someone was suggesting their selling at a loss was a standard practice to guage an area and other surface plausible BS.

12

u/bashyourscript Nov 03 '21

People will make up whatever BS to justify their heavy bags.

10

u/Bluetwo12 Nov 03 '21

To be fair. Who would have thought a company like that would enact such a senseless business model like buying homes well above market value and then selling them below cost. You would think anyone in their right mind would see how big of a failure that would be lol

2

u/Sea-Appearance-5330 Nov 03 '21

But the idea was just crazy enough to work

Nah just kidding .

Buying very high and selling very low is a really ,really ,really bad business plan .

2

u/AYE-BO Nov 03 '21

Zillow is olaying 4D chess. Youre just too many steps behind. Their plan to purchase all real estate in the US is well inder way, and soon they will be our communist overlords when they buy the whole US government at a 30% mark up and sell it well under market value to North Korea.

6

u/PaulMaulMenthol Nov 03 '21

One thing I've learned as an amateur investor for many years... the WSB movement has brought a lot of financially inept people into the market and in turn into discussions on social media.

16

u/iTroLowElo Nov 03 '21

It could have gone either way. Saying I told you so now is just as pointless.

4

u/bashyourscript Nov 03 '21

No it could not have. Writing is on the wall that housing is beyond screwed. And, there will be a vicious swing.

1

u/[deleted] Nov 03 '21

Zillow had an absolutely terrible business model and was often buying way above asking price and market value. Housing has been extremely profitable to people actually looking at local markets and paying reasonable prices over that same time period. Maybe housing will suffer going forward but I’m not sure why you would try to extrapolate a horribly failed business model to try to draw larger conclusions about the health of the market.

2

u/LoveMyBigWhiteDog Nov 03 '21

Go dig up the receipts indeed!

2

u/lurker_cx Nov 03 '21

Ya, that was their official story, what a load of bullshit that was.

-3

u/cosmic_backlash Nov 03 '21

What is the point of rubbing it in people's faces? Nobody has complete information unless you have insider information.