iBuying Comes to a Screeching Halt

The current crisis is testing a lot of industries and iBuying has become one of the hardest hit with the market coming to a screeching halt; the industry was already facing their share of problems as they economics were challenging; Zillow said iBuying would become a $20bn a year business within three to five years and now there is concern it could go belly up; Zillow, Opendoor, Redfin and others say they business will come back after the crisis but there is long term viability issues; in recent days Opendoor laid off 35 percent of employees and Redfin laid off 7 percent of employees and furloughed 41 percent of agents until September; real estate technology strategist Mike DelPrete said the industry faces an uncertain future but believes there is room for it to comes back even it it takes a bit longer to gain a foothold. The Wall Street Journal

  • With efforts in many different areas of the team, she helps manage, organize and execute digital and event content. She works with webinars, podcasts, social media along with managing the hundreds of speakers that attend our conferences. Emily was a part of the Zimmerman Advertising Program at the University of South Florida. She graduated in 2019 receiving a Bachelor of Science in Business Advertising.

Sign up for our Newsletters

Every morning the Fintech Nexus News team scours the globe for the most important fintech stories of the day in the daily Global newsletter.

The Europe edition comes out on Monday, Wednesday, and Friday featuring the most important stories in European and UK fintech.

The Latin American newsletter arrives in your inbox on Tuesdays and Fridays. This is a trilingual newsletter featuring stories in Spanish, Portuguese, and English.

Join 20,000 subscribers!

[class^="wpforms-"]
[class^="wpforms-"]