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bullish
Navigating the Housing Downturn
SUMMARY
- iBuying giant Opendoor has benefited significantly from soaring home prices over the last eighteen months, as revenues have tripled and its asset portfolio has skyrocketed in value.
- However, surging mortgage rates coupled with sky-high prices are leading to a steep decline in sales.
- Potential buyers are now waiting on the sidelines for lower rates/prices, while sellers are now pulling listings until prices start climbing again.
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