{"id":3575,"date":"2021-11-04T20:38:11","date_gmt":"2021-11-04T19:38:11","guid":{"rendered":"https:\/\/costops.com\/index.php\/2021\/11\/04\/when-side-hustles-go-wrong-real-estate-site-zillow-loses-300m-in-a-few-months\/"},"modified":"2021-11-04T20:38:11","modified_gmt":"2021-11-04T19:38:11","slug":"when-side-hustles-go-wrong-real-estate-site-zillow-loses-300m-in-a-few-months","status":"publish","type":"post","link":"http:\/\/costops.com\/index.php\/2021\/11\/04\/when-side-hustles-go-wrong-real-estate-site-zillow-loses-300m-in-a-few-months\/","title":{"rendered":"When side hustles go wrong: real-estate site Zillow loses $300m in a few months"},"content":{"rendered":"

Zillow reportedly has about 7,000 homes that it now needs to unload \u2013 many for prices lower than it originally paid<\/p>\n

Online shopping can be dangerous, as the US property website Zillow has belatedly come to realize. While many of us wasted countless hours during the pandemic clicking through real estate listings on Zillow and daydreaming about the sort of pad we\u2019d buy if we had deep pockets, the company was running a side-business, separate from it\u2019s property searching website, in which it deployed algorithms to help it buy houses themselves and then flip them.<\/p>\n

It did a lot of buying, but hasn\u2019t been so great at the selling. This week the company announced that its home-buying division, Offers, has lost over $300m over the last few months<\/a>. Offers will now be shut down and around 2,000 people laid off. Zillow reportedly has about 7,000 homes<\/a> that it now needs to unload; many for prices lower than it originally paid.<\/p>\n

Continue reading…<\/a>
\nZillow reportedly has about 7,000 homes that it now needs to unload \u2013 many for prices lower than it originally paid
\nOnline shopping can be dangerous, as the US property website Zillow has belatedly come to realize. While many of us wasted countless hours during the pandemic clicking through real estate listings on Zillow and daydreaming about the sort of pad we\u2019d buy if we had deep pockets, the company was running a side-business, separate from it\u2019s property searching website, in which it deployed algorithms to help it buy houses themselves and then flip them.
\nIt did a lot of buying, but hasn\u2019t been so great at the selling. This week the company announced that its home-buying division, Offers, has lost over $300m over the last few months. Offers will now be shut down and around 2,000 people laid off. Zillow reportedly has about 7,000 homes that it now needs to unload; many for prices lower than it originally paid. Continue reading…Technology | The Guardian<\/p>\n","protected":false},"excerpt":{"rendered":"

Zillow reportedly has about 7,000 homes that it now needs to unload \u2013 many for prices lower than it originally paid Online shopping can be dangerous, as the US property website Zillow has belatedly come to realize. While many of us wasted countless hours during the pandemic clicking through real estate listings on Zillow and …<\/p>\n

When side hustles go wrong: real-estate site Zillow loses $300m in a few months<\/span> Read More »<\/a><\/p>\n","protected":false},"author":0,"featured_media":3576,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/posts\/3575"}],"collection":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/comments?post=3575"}],"version-history":[{"count":0,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/posts\/3575\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/media\/3576"}],"wp:attachment":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/media?parent=3575"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/categories?post=3575"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/tags?post=3575"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}