Article By:
Tyler Durden
Monday, November 1, 2021 3:29 AM EDT
We reported that Zillow's electronic house flipping operation had been underperforming -- as the real estate company had been buying houses at inflated prices and flipping them for a loss. In Phoenix, Arizona, things are worse than we thought.
Zillow Caught Holding The Bag As 93% Of Phoenix 'Flipping' Portfolio Listed At Loss
#Zillow $ZG doesn't know how to be profitable. $OPAD made $31k average on each house sold. $OPEN is still not profitable but OPAD had a positive second quarter. With these facts, it's a no brainer to hold OPAD for the long run.