2HOTinPHX
Full time employment: Posting here.
Opendoor posts nearly $1B loss....POP...........?
https://therealdeal.com/2022/11/03/opendoor-posts-1b-loss-as-market-slowed-faster-than-expected/
Opendoor has become a poster child for a housing market slowdown.
The San Francisco-based iBuyer reported a net loss of $928 million in the third quarter — more than 17 times what it lost in the second quarter, the company said Thursday in an earnings release.
Most of that loss was attributed to a $573 million writedown in home values, the firm said in a letter to shareholders, describing the adjustment as a “conservative forward view.”
https://therealdeal.com/2022/11/03/opendoor-posts-1b-loss-as-market-slowed-faster-than-expected/
Opendoor has become a poster child for a housing market slowdown.
The San Francisco-based iBuyer reported a net loss of $928 million in the third quarter — more than 17 times what it lost in the second quarter, the company said Thursday in an earnings release.
Most of that loss was attributed to a $573 million writedown in home values, the firm said in a letter to shareholders, describing the adjustment as a “conservative forward view.”
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