Redfin is a different animal. Like most discount brokerages they depend upon a high volume high velocity market which we’ve had for a decade. In the long run they were bound to struggle with less wanting to sell their homes and now a cooling market.

As with all players in real estate brokerage their fate is not necessarily a straight line connection to the real estate values. They could do great in a high volume falling market while getting crushed in a low volume booming market. But of course our pal doesnt understand how any of this works.