Remember China?
Remember evergrande?
Yup Zillow is a US Company for flipping Real estate. In the period of covid, they bought in a retarded way into the market ( overpaid).
Now they sell out. They cutting the workforce.
So Zillow is big, but not that big for a market impact.
But many people buy at the same price levels.
Many people don't have a lot of savings besides the property.
Alone I doesn't would spend a lot of effort to this event.
But, it becomes exciting in combination with Evergrade and the money printing politic.
It feels a bit 2008, with the difference they bailout the economy before the crisis, weird right?
I also feel a worldwide socialism shift.
Tax the rich,
Giv me dat for free,
Everything must be green and free,
Free this and that is a human right,
and so on.
Weird weird.
I would expect in a worldwide collapse, we could really see a left pull around the western world. In that case government would have a way better reason to absorb the money of the citizens.
Take it all and give nothing back. But that's another topic, that plays around the economic crisis topic.
