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Updated over 3 years ago on . Most recent reply

Jack Hritsko's profile image
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Jack Hritsko
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  • from Canonsburg, PA
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Jack Hritsko
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Jack Hritsko
  • New to Real Estate
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Real Estate News & Current Events

Is the housing market crash here?

Jack Hritsko
  • New to Real Estate
  • Canonsburg, PA
Posted

Just watched a video explaining how Zillow is selling between 60-70% of homes they bought in markets like Phoenix, Dallas, Houston, and Atlanta for a loss. Does this mean Zillow is preparing for a crash and cutting their losses when they can, or was I just fooled by a YouTube video?

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Bill B.
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Bill B.#3 1031 Exchanges Contributor
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Bill B.#3 1031 Exchanges Contributor
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Replied

They specifically said they couldn’t get enough workers to fix up the properties so they could be “fixed and flipped”. 

Property prices “only” being up 10-20% YOY usually isn’t considered a crash. 

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