Now that Zillow is pausing, they have at least a dozen or so in North County, haven’t done a formal tally.
The “explanation” is they can’t find enough people to prep the houses for sale etc.
Will be notable to see how the buy and flip goes at that level.
Not really convinced the model works, most landlords rely on cashflow and owners get place to live, Zillow only gains if the momentum keeps up which today may be 50/50 on a month to month basis.
Kind of a shame, they get in skew the data some and come up with a lame excuse to pause.
Given the corporate overheads, the need to bring in margins of 3-5K per month to breakeven. Individuals don’t need that kind of short term gain to cover a payroll. So in a sense this business model is borderline ridiculous. But what do I really know?
