Many talk about how $OPEN has lost money on 42% of its sales in August.

But what many aren't talking about is that this is the first time that OpenDoor is selling homes at a loss.

While the losses were for a short time, OpenDoor is looking to lower their bid price for properties as a way to ensure that they have a better margin of safety so that they can sell homes at a profit.

With homebuilder sentiment at very low levels and realtors struggling to generate sales on listings, I can see more homeowners going to OpenDoor to sell their homes fast and using the cash offer to buy another property sooner.

Even if the real estate environment is getting difficult, OpenDoor is looking to have more negotiating power while sellers lose the high negotiating power that they once had.
Nathan Worden's avatar
I appreciate the optimistic take in the tough environment 😊
Modern Growth Investing's avatar
@nathanworden this is just the beginning of the slide, real estate is market that has a slow drag and rise, more pain ahead, looking for better prices to buy, sub 2$ probably