Redfin Fs Around With Capitalism & Finds Out, House-Flipping Business Crashes

Redfin is laying off the 11% of its workforce who worked on their failed house-flipping business. Ana Kasparian and Cenk Uygur discuss on The Young Turks. Watch TYT LIVE on weekdays 6-8 pm ET. http://youtube.com/theyoungturks/live

Read more HERE: https://www.vice.com/en/article/93amw...

"RedFin is laying off 862 people and closing its high-tech house flipping business, the real estate company announced Wednesday. To make the tough news as easy to digest as possible, CEO Glenn Kelman organized his email to staff that included sections like “Hello, Adversity,” “Our True Colors,” and “A Caring Culture in a Cyclical Industry.”

The economic slowdown has hit real estate companies like RedFin particularly fast and hard this year. What had been one of the hottest housing markets in U.S. history quickly turned as many buyers were no longer able or willing to pay the combination of record prices and newly rising interest rates, leading to a significant decline in housing sales."

***

The largest online progressive news show in the world. Hosted by Cenk Uygur and Ana Kasparian. LIVE weekdays 6-8 pm ET.

Help support our mission and get perks. Membership protects TYT's independence from corporate ownership and allows us to provide free live shows that speak truth to power for people around the world. See Perks: ▶ https://www.youtube.com/TheYoungTurks...


SUBSCRIBE on YOUTUBE: ☞ http://www.youtube.com/subscription_c...
FACEBOOK: ☞   / theyoungturks  
TWITTER: ☞   / theyoungturks  
INSTAGRAM: ☞   / theyoungturks  
TWITCH: ☞ http://www.twitch.com/tyt

👕 Merch: http://shoptyt.com

❤ Donate: http://www.tyt.com/go

🔗 Website: https://www.tyt.com

📱App: http://www.tyt.com/app

📬 Newsletters: https://www.tyt.com/newsletters/


If you want to watch more videos from TYT, consider subscribing to other channels in our network:

The Watchlist    / watchlisttyt  

Indisputable with Dr. Rashad Richey    / indisputabletyt  

Unbossed with Nina Turner    / unbossedtyt  

The Damage Report ▶    / thedamagereport  

TYT Sports ▶    / tytsports  

The Conversation ▶    / tytconversation  

Rebel HQ ▶    / rebelhq  

TYT Investigates ▶    / @tytinvestigatesreports  


#TYT #TheYoungTurks #BreakingNews

221110__BE02RedfinVsLackOfSalesBP