Opinions
Jim Cramer - Mad Money
Zillow
Z-Q
COMMENT
Oct 29, 2021
They report Tuesday. The economics turned against them, so they've put the house-flipping business on pause. What they say Tuesday will be important, but more so will be Jay Powell's FOMC minutes on Wednesday.
$103.630
Stock price when the opinion was issued
Technology
It's the ideal tool to help you make quicker, more informed decisions for
managing and tracking your investments.
You might be interested:
COMMENT
Weakness in the U.S. housing market A report says that it's paused flipping homes, which makes him wonder if there's weakness in the housing market, which has been booming. Costs of labour and materials has been popping, which is also delaying the completion of new homes. Appliances have leap from 2 week to 8 weeks to find and install. Precarious. Housing can't keep costs down. That said, if interest rates stay low, the boom will continue in states with heavy housing demand. If. It's possible that housing demand and prices have gone up too far, too fast, but he's worried that the boom won't last.
Technology
SELL
He's naming the CEO to his Hall of Shame. The company fed Wall Street a lot of claptrap about how they understood the real estate market better than anyone. In 2019, he warned viewers about Zillow when he called it risky with some brutal speedbumps along the way. Now, they're trying to sell 7,000 homes to institutional investors for a reported $2.8 billion. So much for fix and flip. Zillow is now taking $569 million from write-offs as it winds down the business. Barton treated the street like suckers.
Technology
Advertising