Mortgage applications are down 70% year over year. Redfin has announced it's shutting down its eye-buying business, and we talked a little bit last week about how Open Door lost nearly $1 billion in the third quarter. Commercial investors are anticipating a wave of distress with some forming new ventures and funds to capitalize on that.
Compass CEO Robert Reffkin had a busy Nov. 10. Hours after speaking at a TRD forum in Miami, Reffkin got on a conference call with analysts to discuss the company's much anticipated earnings results for the third quarter. Compass lost $157 million from July through September — more than it lost in the second quarter. Deconstruct looks at the state of the brokerage, why it's struggling and where it goes from here.
Guests: TRD reporter Harrison Connery, TRD deputy web editor and South Florida reporter Katherine Kallergis.