Anyone follow this stock? Have been eyeing it to buy under $50 which is currently the case. But looks like outlook isnt that good since buying mortgage lenders of america and reporting weak sales?
Hell yeah. Real estate moguls can go ๐ฆ a ๐
I am adding to my rdfn position
Short it, dont buy
Buy. Obviously I'm biased. I love the voting/nonvoting stock structure Zillow has. Basically Zillow does whatever it wants and doesn't care about short term fluctuations.
But real estate is slowing down and with increase in mortgage rates not sure if zillow redfin are good buys
When the pickings get slim, the agents who spend more will still get more deals. Weโve seen agent spend actually go up in downturns in the past.
I have heard agents say they first thing they will cut / are cutting in a slow down is Zillow ad spend.
For agents who spend a lot itโs likely going to be the opposite, they will want to get more of the smaller pie, and spend more to get it. The key metric is going to be consumer traffic to ZG sites.
I'm bullish on ZG and RDFN, planning to hold 10+ years
Yup , this is going down