Real Estate Roundup
RE/MAX feels the (“exi)pain
• The CEO of RE/MAX, one of the leading real estate markets globally, abruptly resigns.
His shock departure ignited a whirlwind of speculation as rats are known to leave sinking ships first.
Airbnb: Bringing in the Billion Bucks
• Not just settling on being a verb in our traveler’s lexicon, Airbnb is putting a “b” in front of its money, hitting $10 billion in revenue.
Unfazed by the unfriendly battleground of global urban places, Airbnb’s bedrooms are booking at an unbelievable rate.
Zillow: Haus-Boxing Victor
• Presenting itself as the Mike Tyson of the real estate roundup, Zillow knocks out strong numbers with revenues and subscriptions jacking up.
We are yet to see if Zillow’s victory will be a KO in the long run or a flash in the pan.
Empty Offices: A Sigh(t) for Sore Eyes
• Office spaces are increasingly becoming spots of silence as more and more employers embrace remote work policies.
Wall Street’s once bustling corridors are looking more like ghost towns reminiscent of a post-apocalyptic Hollywood movie.
Home Sales: Stepping on the Gas
• Despite the debt detour, financial fiasco, and certain doomsayers, the housing market is revving its engine. Real estate insiders are coining it as the “rude health” of the sector.
Hot Take!
Here’s my hot take – real estate’s the forever roller-coaster. Not only because of its price tags that keep going up and down like a yo-yo on rocket fuel, but also because of the spice it adds to the world! From RE/MAX’s CEO exit, which was as unexpected as finding a winning lottery ticket in an old pair of jeans, to Airbnb’s eye-popping $10 billion year – they’re practically swimming in money like Scrooge McDuck!
And Zillow? They’re dancing around like they’ve just found the golden ticket, as their subscriptions skyrocket seemingly skyward! Then there’s the spooky, haunting sight of empty offices – who knew Wall Street would turn into Wall Ghost?!
Despite all this, the housing market’s foot is firmly slammed on the gas. I guess the doomsayers will have to keep munching on their words for a while longer. The question remains: how long can this wild ride keep going? Strap in, folks. It’s sure to be a bumpy – but fascinating – ride!
Original article: https://www.inman.com/2024/02/29/icymi-the-biggest-wins-losses-and-news-from-q4-2023-earnings/
