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Stock impact report

‘Accidental Landlords' Hit Near-Record Levels — 1 Stock to Buy, 1 to Avoid [Yahoo! Finance]

Opendoor Technologies Inc (OPEN) 
Company Research Source: Yahoo! Finance
and professional management as individual homeowners shift to renting rather than selling. Opendoor Technologies OPEN ) reported trailing 12-month revenue of $4.37B, down from $5.15B, and posted a net loss of $1.3B as fewer homes coming to market directly undermines its iBuying acquisition volume. The “accidental landlord” trend—where sellers unable to get their asking price convert listings to rentals instead—has climbed to the second-highest level on record at 2.3%, shrinking the pool of motivated sellers that iBuyers like Opendoor depend on while expanding rental inventory that benefits established REITs like Invitation Homes. The analyst who called NVIDIA in 2010 just named his top 10 AI stocks. Get them here FREE Home prices remain elevated and mortgage rates hover near 6%, so many would-be sellers list their houses only to watch them sit. When offers fall short of expectations, a growing number simply pull the listing and rent the property instead. Zillow NYSE:Z ) released Show less Read more
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