 Hey, what's up everybody? Ricky Karuth here. So this just in Zillow is looking to sell 7,000 homes, okay? This comes just weeks after they announced that they were going to pause their eye-buying process. So they are going to stop buying homes and now they're in this predicament where they have 7,000 homes that they have to sell. So let's dig into it here. Just weeks after announcing a pause in its eye-buying, Zillow is aiming to sell about 7,000 homes for roughly 2.8 billion. The real estate giant is pitching the homes to institutional investors and will probably sell to multiple buyers. In mid-October, Zillow stated it would pause the purchasing of any new homes through the end of 2021, stating that an inability to keep up with demand amid labor and supply issues hindering its renovations and closing process. However, it will continue to fall through on any pre-existing contracts with consumers. The news of Zillow's efforts to unload thousands of properties also follows reports of the company's underpricing homes they had originally purchased for more. Now to me, it didn't take a genius to see how this whole thing was going to play out. When they started to buy houses, they were buying and selling them at a loss from day one. I don't know. I don't know that they'd ever made money on a house, probably here and there. But overall, average-wise, they were losing money from day one with this project. So if you're going into a market where prices are escalating very quickly over the course of several years and you're just buying thousands of properties and selling them at a loss and now you're holding all this inventory of thousands of homes, what do you think is going to happen as the market cools off? Again, this isn't rocket science. Zillow was pricing hundreds of homes that had purchased in Phoenix for a medium of 6.2% less than what the company had originally purchased them for. Zillow's Phoenix inventory is currently priced at a medium of 29,000 less than the buy price. This is a direct result of price reductions on 182 listings on an average of $41,000. But Phoenix isn't the only market which Zillow was listing homes at a price reduction. Okay, this is also happening in Atlanta and Dallas. So now you find Zillow in a very sticky situation where they have 7,000 homes, it seems, that they're going to try to unload at a loss, right? And so this is going to be very interesting to see how this plays out. And again, complete telegraph, like you could see this happening in real time. It didn't take any kind of, you know, massive amount of brain power to see how this thing was going to play out for them. The whole time they were buying houses, I was doing videos here saying how in the world is Zillow buying houses and selling them at a loss? I mean, it just made zero sense to me. And as the market continued to escalate, you know, agents that I know, they're telling me that Zillow is buying their client's house for more than full price. And I'm thinking to myself, what in the world, how can they even make sense? Leave your thoughts in the comments. Let's see how this thing plays out. I'll keep you informed here. Let me know if there's anything else in the world I can do for you today. Get out there and crush it. Talk to some buyers, talk to some sellers, see what you can do to help people and provide your services. Ricky Carruth signing off. We'll talk to you guys soon.