RE: Zillow, if your market making business has holding times measured in months, you better be sure you're hedging out housing market delta! if your backtests assume high turnover and you can't move inventory, then guess what? The alpha you thought you had just left the building
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assuming you can bind legal rights? yes right? it can be right?
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i mean they've tried doing fractional ownership real estate. or do you explicitly want no hope of economic value as a selling point?
End of conversation
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