In this Vice article article from August 13, 2021, they dig into the "arms race" between Zillow and Opendoor to buy as many homes as possible right now. Zillow is raising $450 million to buy homes, and Opendoor is looking for a $2 billion line of credit to do the same. Both have bought thousands of homes in recent months. They are still small time in the Big Picture of real estate right now, but some of you may remember the days when Amazon.com was a goofy website selling a few books, that got laughed at in the business news. This article is a good look at the emerging "ibuyer" trend in real estate.
Wednesday, August 18, 2021
Zillow, Opendoor, Redfin? Will one of these become the "Amazon" of real estate some day?
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