{"id":16579,"date":"2020-05-11T10:07:21","date_gmt":"2020-05-11T17:07:21","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=16579"},"modified":"2020-08-20T13:51:22","modified_gmt":"2020-08-20T20:51:22","slug":"q-what-will-redfin-and-the-other-ibuyers-do-when-the-market-actually-gets-ugly-a-discover-real-estate","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/16579\/q-what-will-redfin-and-the-other-ibuyers-do-when-the-market-actually-gets-ugly-a-discover-real-estate\/","title":{"rendered":"Q: What will #Redfin and the other #iBuyers do when the market actually gets ugly? A: Discover real estate."},"content":{"rendered":"

‘#Redfin Now, as the iBuying service is known, \u201cperformed better in a downturn than some had feared,\u201d CEO Glenn Kelman said.’<\/a><\/p>\n

Downturn? Hasn’t started yet. I don’t like being the bearer of bearish news, but the shit-hammer will be obvious, when it falls.<\/p>\n

Primus: Many, many jobs are not coming back. Vacation rentals have cratered. Notices of Default will be mailing soon. Inventory will surge, relative to demand. Prices will fall. When accrued equity has been bled away, actual foreclosures will ensue.<\/p>\n

Secundus: The anti-profit sector (government, schools, hospitals, charities) will soon crash from lost revenue. The jobs lost are those currently buoying the coronavirus-disrupted market. Second wave of defaults\/listings\/foreclosures.<\/p>\n

Tertius: Whether or not the grasshopper states get away with fleecing the ant states \u2013 note that the Republic itself is at risk from this larceny; what does that do for confidence? \u2013 cadillac pensions in the grasshopper states will be getting a haircut. Third wave of defaults\/listings\/foreclosures?<\/p>\n

It took us 14 years to get from where we were in 2006 to where we are right now.<\/p>\n

How long until we get back here?<\/p>\n

Don’t ask Glenn Kelman. He clearly does not have a clue.<\/p>\n","protected":false},"excerpt":{"rendered":"

‘#Redfin Now, as the iBuying service is known, \u201cperformed better in a downturn than some had feared,\u201d CEO Glenn Kelman said.’ Downturn? Hasn’t started yet. I don’t like being the bearer of bearish news, but the shit-hammer will be obvious, when it falls. Primus: Many, many jobs are not coming back. Vacation rentals have cratered. […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5,10,27],"tags":[],"class_list":{"0":"post-16579","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-real-estate","7":"category-realty-reality","8":"category-redfincom","10":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":2379,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2379\/the-odysseus-medal-competition-voting-for-the-peoples-choice-award-is-open-11\/","url_meta":{"origin":16579,"position":0},"title":"The Odysseus Medal competition — Voting for the People’s Choice Award is open","author":"Greg Swann","date":"December 16, 2007","format":false,"excerpt":"Some news first: The first of the BloodhoundBlog Unchained lapel pins sold for $20.50. The second auction closes in about 24 hours. Todd Carpenter is hosting a contest for the funniest RE.net blog post for 2007. I am badly eclipsed in a contest like this -- where's the award for\u2026","rel":"","context":"In "Blog Carnivals"","block_context":{"text":"Blog Carnivals","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blog-carnivals\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":17581,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/17581\/overnight-news-is-it-shoedrop-tuesday-will-the-supreme-court-whitewash-chinas-conquest-of-the-american-electoral-system\/","url_meta":{"origin":16579,"position":1},"title":"Overnight News: Is it Shoedrop Tuesday? Will the Supreme Court whitewash China\u2019s conquest of the American electoral system?","author":"Greg Swann","date":"December 8, 2020","format":false,"excerpt":"The actually-dispositive election fraud case may have been filed last night. Today or tomorrow may yet compete for Peak 2020. Think of this: We could have big news now and still bigger news later in the month... CNBC: Redfin CEO says the booming Covid housing market can get even hotter.\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"Ya think it's easy?","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/08\/BHBNewTopImage-300x225.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":17417,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/17417\/overnight-news-hey-redfin-what-happens-when-you-tell-everyone-youre-racist-and-they-believe-you\/","url_meta":{"origin":16579,"position":2},"title":"Overnight News: Hey, Redfin: What happens when you tell everyone you\u2019re racist \u2013 and they believe\u00a0you?","author":"Greg Swann","date":"October 31, 2020","format":false,"excerpt":"Here's the deal: If disparate impact is automatically racism, Asian and Jewish people should be suing pro-athletics. That's what Glenn Kelman needs to say to swat the race pirates away. Financial hurdles seek to qualify Ants and disqualify Grasshoppers. This has nothing to do with race, but every financial hurdle\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"Ya think it's easy?","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/08\/BHBNewTopImage-300x225.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":1986,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1986\/the-odysseus-medal-competition-voting-for-the-peoples-choice-award-nominated-posts-is-open\/","url_meta":{"origin":16579,"position":3},"title":"The Odysseus Medal competition — Voting for the People’s Choice Award is open","author":"Greg Swann","date":"September 30, 2007","format":false,"excerpt":"This was a great week. It wasn't easy getting to a short list of twenty nominees, and I think it's going to be particularly tough to pick an ultimate winner. I can't imagine it will be any easier for you to vote for the People's Choice Award. What gets a\u2026","rel":"","context":"In "Blog Carnivals"","block_context":{"text":"Blog Carnivals","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blog-carnivals\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4924,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/4924\/citing-market-downturn-redfincom-cuts-headcount-by-twenty-heads\/","url_meta":{"origin":16579,"position":4},"title":"Citing market downturn, Redfin.com cuts headcount by twenty heads","author":"Greg Swann","date":"October 13, 2008","format":false,"excerpt":"Via intrepid startup blogger John Cook from his new weblog Where are John and Todd?:Redfin today said it is cutting 20 percent of its staff as the Seattle online real estate broker prepares for what Chief Executive Glenn Kelman described as a \u201cbig dip.\u201d About 20 employees were let go,\u2026","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1655,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1655\/not-all-neighborhoods-feeling-a-downturn\/","url_meta":{"origin":16579,"position":5},"title":"Not all neighborhoods feeling a downturn","author":"Greg Swann","date":"July 14, 2007","format":false,"excerpt":"This is me in yesterday's Arizona Republic (permanent link): \u00a0Not all neighborhoods feeling a downturn There are neighborhoods in the Phoenix area where the housing downturn is barely discernible. How can that be? News reports are full of doom and gloom stories. Defaults, foreclosures and interest rates are up, with\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/16579","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=16579"}],"version-history":[{"count":2,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/16579\/revisions"}],"predecessor-version":[{"id":16611,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/16579\/revisions\/16611"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=16579"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=16579"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=16579"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}