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High performers, how often do you have slack off days?
There are lots of buyers but yea why would anyone sell now? (To be fair I'm I'm the never sell real estate every camp so may have a hard time understanding why anyone ever sells real estate)
Bc you no longer have a job to make your expensive mortgage? Bc it was you second property you levered on to rent to Airbnb that now has 0 income but still has payments ?
If you no longer have a job you take the 12 month forbearance and don't pay your mortgage. If you had a second property then lucky you, you can raise the rent and rent it and take the forbearance for extra cash flow for a year.
So just the realtors were let go? Or their tech staff too?
7% staff too
Engineers, PMs and designers were let go too.
We were hoping to buy a house by July but now our realtor is let go. Ugh
Find another?
You can buy our house :)
will be worse than 2008
The company name checks out!
I think they furloughed not laid off. Once situation is back to normal people will go back to working normally
That’s not guaranteed and some people were laid off.
Sorry to hear that. I am sure things will go back to normal life soon.
Is it 40% or 7%?
Of ALL Redfin employees, 34% were furloughed and 7% were laid off. 5% of engineering was impacted off last I heard.
Furloughed for how long?
41% is made up of 7% layoff and 34% furlough
😗
40% of their field staff (real estate agents) laid off or furloughed. A small percentage of their corporate staff (business ops and engineering) were also let go. https://www.geekwire.com/2020/redfin-lays-off-7-staff-furloughs-hundreds-agents-due-covid-19-impact-housing-demand/
This is just the beginning, glad I am not in real estate.
Housing crisis coming soon
How do you figure?
How do you not ? Double digit unemployment, stocks down double digits. Housing is a leveraged asset