Zillow Drops After Dire Housing Outlook - there goes the market

[Account Closed]

Are you ready for the New Reality . . . ?

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It's one thing for a fringe, tinfoil, conspiracy theory website such as this one https://www.zerohedge.com/mark...to warn (repeatedly, for months) that with mortgage rates rapidly approaching 6%, the US housing market is on the verge of a vicious collapse, as discussed articles such as these:

• Housing Affordability Is About To Crash The Most On Record
• Cracks Appear In Housing Market As Sellers Begin To Lower Asking Prices
• Biggest Housing Affordability Shock In History Incoming
• Worst Ever US Home Affordability Is Just 0.5% Away

It's another for one of the biggest housing-market linked companies to confirm just that.

On Thursday, Zillow plunged as much as 13% in late trading Tuesday after a dismal outlook stoked investor fears that rising mortgage rates will spark the next crash in the US housing market.

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Oh well, another Crash, another Cycle.

[Taylor L.]

The entire market is down. I don't know why one would expect Zillow (or any other tech company) to buck the trend and not go down with the market. Netflix being down >70% this year doesn't mean streaming is going away.

The real estate market isn't perfect, and there certainly are risks. But Zillow's stock price is certainly not a good indicator of the health of real estate investing.