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Managing a recession, housing market insights & more with Redfin's Glenn Kelman + OK Boomer | E1616
This Week in Startups
I-Buying Cash Offers - Is That a Good Business?
The spread between what a home is really worth and what we could pay someone in advance for it through this I-buying cash offer had gotten really large. So when you're marking down offers 10, 20% from the market value...you just don't feel good even when they take it. It might be a good business. It's just not a good business for us. We were borrowing money at 0% coupon and now rates are through the roof.
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