Bet the crash will be in housing again, and will be triggered by Zillow shennanigans
Sometimes the butler is the one you suspect the least because he’s the one you suspect the most. “Butler did it” meta edition
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Even the most optimistic projections of iBuyers put it at 1% of the market.
zillow.com/research/zillo
I don't know how to express this as a bet, but I would take a _large_ bet that iBuying does not cause an economic collapse.
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iirc the actual value of subprime mortgages in 2008 was modest, it was the leverage and domino effects that did it…
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Between the gas prices and housing prices, I've been feeling deja vu from 2008 for a while now.
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Don't know what to think re Zillow specifically but I do think about article I read 7-8 years ago (don't remember enough about it to find it) that stated 40% of GDP (!!!) when it was 15T was financial sector. Now that GDP is around 20T I assume more funny money, not real growth.
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wasn’t 2008 because of liquidity crunch in shadow banking? i doubt zillow’s shenanigans comes even within 1% of that market’s size, to be causing a crisis
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