Real estate has historically been a relatively safe haven for investment dollars—you buy, you live, you gain. Online real-estate platforms have held tight to this narrative amid a turbulent equity market, shaken first by a global pandemic and now by what seems to be a macroeconomic downturn. Should you believe them?
There have been many warning signs. The biggest, of course, was Zillow’s home-flipping implosion last November—one that caused even eternal growth optimist
Cathie Wood
to pare her positions in
Group and
Zillow is trying to reinvent itself as a real-estate super app, facilitating rather than owning the home transaction. But investors seem to have completely lost interest. Zillow’s…
