Zillow to stop flipping homes, loses more than $550M, lays off 25% of staff
Good riddance, I hope this company burns to the ground<p>The software developers working for this company knowingly tried to make algorithms to flip and profit off of something that should be a human right<p>Replacing carpets and painting walls, trying to flip for a 20% profit, the people running Z must be geniuses<p>As a millennial looking at 2 bedroom flats selling for £575k (780k usd, not far from a million dollars) in my area, I cannot help but have tears of joy when corporations who hope to profit off of our desperate housing situation get hit by reality straight in the face<p>Ask yourself who benefits from housing prices rising. If you lie to yourself that it&#x27;s people who are trying to move up the housing ladder, remember that your flat appreciating 50%  in 2 years means the house you want to move into by selling your flat also appreciates 50%, so you win nothing<p>It&#x27;s the rent seeking leeches of society that think that by buying a &quot;portfolio&quot; of houses, they can live out their lives without contributing society in any way<p>Anyone arguing against this has either a dog in the race, or  loose screws in the head